Moderna and Other Vaccine Makers Are Dropping. Here’s Why.
and other vaccine makers were sliding Wednesday after the CDC found evidence of myocarditis in young men who had taken mRNA vaccines, but still said that the rewards outweigh the risks.
Anecdotal cases of young men getting myocarditis, a rare form of heart inflammation, have been circulating, and the CDC set out to determine if they were more than mere anecdotes. Its conclusion: they are. The numbers are small, just over 1,200 cases out of 300 million people given the vaccine, but enough to conclude that there’s a “likely association.” The CDC, however, also said that the risks of giving young men the vaccine outweighed not giving it to them, but also said that it has to determine whether that is the case with booster shots.
The latter is what could cause problems for Moderna (MRNA) and others. How much money it will make from boosters is an open question and the CDCs data could push the scales to a lower estimate—and lower sales. That could create volatility in Moderna’s stock, which Barron’s recommended in April. “We expect the debate on MRNA ‘tail’ revenues will remain on Wall Street,” writes Jefferies analyst Michael Yee.
Shares of Moderna have dropped 3.6%, while Pfizer (PFE) has fallen 1.3%, BioNTech (BNTX) has slipped 2.6%,
(CVAC) is off 1.8%, and
(NVAX) has declined 1.7%.
Write to Ben Levisohn at [email protected]