Moderna receives full FDA approval: is it time to buy the stock?

Moderna Inc (NASDAQ: MRNA) is now in the “oversold” territory after a 65% hit to its stock price over the past six months, says Sanctuary Wealth’s chief investment officer.

Why Kilburg likes Moderna

On CNBC’s “Power Lunch”, Jeff Kilburg said he was interested in owning Moderna on sale as the company had promising prospects for future growth.

Moderna received full FDA approval for its COVID-19 vaccine on Monday. Spikevax is now the only shot, other than Pfizer’s Comirnaty that has full backing from the regulator. The biotech company also launched a clinical trial for its omicron-specific vaccine last week.  

Weiss is also bullish on MRNA

Kilburg's outlook is similar to Stephen Weiss, who added to his position in MRNA on Monday. In a separate interview on CNBC’s “Halftime Report”, the founder of Short Hills Capital Partners said:

Weiss also reminded that the sell-off was not specific to Moderna. The biotech space at large has been in a freefall since August 2021. The Massachusetts’ based company is set to report its Q4 results in the last week of February. MRNA trades at a PE multiple of 10.28.