CONTACT: The Schall Law Firm Brian Schall, Esq. 310-301-3335info@schallfirm.comwww.schallfirm.com
SOURCE: The Schall Law Firm
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COVID-19 Positive Rate Spikes
With more knowledge about the virus, ample funding, and new treatments, the worst of the COVID-19 pandemic seems to be behind us (from a death perspective). However, just because the Coronavirus death rate has dropped dramatically since its major peak in 2020 (and a subsequent spike in 2021) doesn’t mean that COVID-19 is still not negatively impacting people who get it.
Data from the CDC website shows that the number of people testing positive for COVID-19 has reached its highest level since early about two years.
Image Source: CDC
Though fewer people are dying from the virus, “long COVID” is something that people want to avoid because it can cause complications (not yet fully understood) that can include extreme fatigue, digestion issues, and potential brain issues in younger patients.
Novavax: A New Entrant in the COVID-19 Vaccine Realm
From a vaccine perspective, the two biggest winners from the COVID-19 vaccine race were Pfizer (PFE) and Moderna (MRNA). However, with COVID-19 stubbornly sticking around, investors should focus on an obscure, up-and-coming COVID-19 vaccine maker called Novavax.
Novavax Sanofi Deal Offers Distribution and Funding
Novavax (NVAX) is a biotech company that develops innovative vaccines to prevent serious infectious diseases. In May, the company entered into a multi-billion-dollar partnership with French biotech giant Sanofi (SNY). NVAX shares jumped 80% for the week when the deal was announced because it offered NVAX a critical component it did not have – distribution.
Per the deal terms, Sanofi took a minority stake in NVAX (a $70 million equity investment), will gain rights to co-market Novavax’s COVID-19 vaccine globally, and will have the sole license to develop and market NVAX’s COVID vaccine in combination with its influenza vaccine. NVAX also received a payment of $570 million from Sanofi, which was included in the deal.
Florida DOH Advises Against mRNA COVID-19 Vaccine
Distribution is one way that Novavax can tighten the vaccine race and catch up to more prominent players like PFE and MRNA. Another way is through its differentiated, non-mRNA vaccine. Friday, Moderna shares dove more than 12% on massive volume after the Florida Department of Health (DOH) advised against mRNA COVID-19 vaccines, citing seven safety and efficacy concerns. Novavax, which uses protein-based vaccines, is the clear beneficiary. NVAX shares jumped 14% Friday in reaction to the news.
COVID-Influenza Combo Vaccine Could be Game-Changer
Novavax’s COVID-influenza drug is slated to reach late-stage trials by the end of 2024. Should the drug pass trials, this unique, first-of-its-kind drug should act as a bullish catalyst into year-end.
NVAX Stock's Bullish Chart Pattern
NVAX’s share price and volume action is mimicking its strong fundamental possibilities. The stock is carving out a bullish monthly bull flag pattern. Shares should accelerate to the upside if they can clear last month’s hammer candle highs of $14.09.
Bottom Line
Though Novavax is behind in the COVID-19 vaccine race, a blockbuster deal with Sanofi and a differentiated product means the stock offers the best reward prospects in the industry moving forward.
Zacks Investment Research
Moderna (MRNA) closed the most recent trading day at $69.17, moving +1.3% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.13%. On the other hand, the Dow registered a gain of 0.55%, and the technology-centric Nasdaq decreased by 0.52%.
Heading into today, shares of the biotechnology company had lost 21.37% over the past month, lagging the Medical sector's gain of 3.34% and the S&P 500's gain of 3.67% in that time.
Market participants will be closely following the financial results of Moderna in its upcoming release. The company is forecasted to report an EPS of -$1.68, showcasing a 20.86% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.27 billion, down 30.44% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$9.53 per share and a revenue of $3.26 billion, signifying shifts of +22.71% and -52.33%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Moderna. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.57% downward. Moderna presently features a Zacks Rank of #4 (Sell).
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 83, positioning it in the top 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Zacks Investment Research
Florida Governor Ron DeSantis' administration has reportedly issued updated guidance recommending that healthcare providers steer vulnerable patients away from mRNA-based COVID-19 vaccines.
The Florida Health Department is raising concerns about the safety of the mRNA vaccines, pointing to potential risks such as myocarditis and postural orthostatic tachycardia syndrome (POTS), rare heart conditions. This stance contrasts sharply with recommendations from federal health agencies, which continue to endorse mRNA vaccines as safe and effective for all eligible individuals.
In June, the U.S. CDC recommended using updated 2024-2025 COVID-19 vaccines in individuals six months and older.
The FDA in August granted emergency use approval for updated mRNA-based COVID-19 vaccines from Moderna Inc. and Pfizer Inc /BioNTech SE's , targeting the Omicron variant KP.2 strain.
The NBC News highlights that the state's health department is advising that individuals aged 65 and older, along with those with underlying health conditions, prioritize access to non-mRNA vaccines and treatments instead.
Earlier this month, the FDA granted Emergency Use Authorization to Novavax Inc.'s protein-based COVID-19 Vaccine, Adjuvanted (2024-2025 Formula) (NVX-CoV2705) for active immunization to prevent COVID-19 in individuals aged 12 and older.
The state's guidance emphasizes that high immunity levels from prior infections, combined with current data, justify their position.
The report adds that while there is a documented small risk of myocarditis linked to the mRNA vaccines, especially in younger males, studies show most cases are mild and resolve fully.
Research published in Nature Cardiovascular Research highlights that individuals infected with COVID-19 are five times more likely to develop POTS than those vaccinated with mRNA vaccines, reinforcing the importance of vaccination.
Researchers from the Universities of Cambridge, Bristol, and Edinburgh revealed that COVID-19 vaccinations may significantly reduce the incidence of arterial thromboses, a leading cause of heart attacks and strokes.
Price Action: MRNA stock is up 2.37% to $69.90, PFE stock is up 2.12% to $29.89 at the last check on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
LOS ANGELES, CA / ACCESSWIRE / September 16, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Moderna, Inc. ("Moderna" or "the Company") (NASDAQ:MRNA) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between January 18, 2023 and June 25, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before October 8, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Moderna's mRESVIA (mRNA-1345) was less effective that it had portrayed to the market. The commercial prospects of mRNA-1345 were overstated. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Moderna, investors suffered damages.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT: The Schall Law Firm Brian Schall, Esq. 310-301-3335info@schallfirm.comwww.schallfirm.com
SOURCE: The Schall Law Firm
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