5 Best COVID Stocks To Buy Now

4. Moderna, Inc. (NASDAQ:MRNA)

Number of Hedge Fund Holders: 45

Moderna, Inc. (NASDAQ:MRNA) is a Massachusetts-based biotechnology company which made headlines during the prime COVID years as its vaccine was one of the four approved by WHO. Apart from its respiratory COVID-19 vaccine, Moderna, Inc. (NASDAQ:MRNA) develops messenger RNA therapeutics and vaccines for the treatment of infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases. On September 28, The European Medicines Agency accepted Moderna, Inc. (NASDAQ:MRNA)’s application for conditional marketing authorization of a COVID booster vaccine for candidates 12 years and older.

Argus analyst Jasper Hellweg on September 14 maintained a Buy recommendation on Moderna, Inc. (NASDAQ:MRNA) but lowered the price target on the shares to $150 from $180. The analyst contended that the stock’s discounted price offers a “buying opportunity” as Moderna, Inc. (NASDAQ:MRNA)’s Omicron-containing bivalent COVID-19 booster vaccine was recently authorized by the FDA in the United States. 

According to Insider Monkey’s data, 45 hedge funds were bullish on Moderna, Inc. (NASDAQ:MRNA) at the end of Q2 2022, up from 41 funds in the earlier quarter. Patrick Degorce’s Theleme Partners is the leading position holder in the company, with 6.35 million shares worth $907.7 million. 

In its Q3 2021 investor letter, Carillon Towers Advisers, an asset management firm, highlighted a few stocks and Moderna, Inc. (NASDAQ:MRNA) was one of them. Here is what the fund said:

“Moderna, Inc. (NASDAQ:MRNA) is a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines. The stock proved to be an impressive contributor once again in the quarter, as investors continue to evaluate the potential for future growth driven primarily by the firm’s revolutionary COVID-19 vaccine. Strong global demand for the vaccine may persist for the foreseeable future in order to maintain immunity as well as provide protection against any additional future variants. The potential for the firm’s mRNA technology to be used in a number of other use cases, specifically influenza, could also provide an additional tailwind for future growth.”