Jim Cramer Says Moderna Stock Is 'Too High At This Point'

CNBC host Jim Cramer said that Moderna Inc.’s MRNA stock is “too high at this point” and the biotechnology company’s crucial test is whether it can offer personalized cancer vaccines in time to offset the decline in COVID-19 vaccine sales.

What Happened: Cramer said on CNBC’s “Mad Money” show that Moderna is a sell if investors think COVID-19 is “behind us.” However, the shares could continue to rally if people think the Delta variant of COVID-19 spells trouble, he noted.

“I think the stock’s too high at this point because, even if they’re successful at cancer vaccines, the comparisons are so difficult because of how successful they were in Covid,” Cramer added.

See Also: Jim Cramer Says Moderna 'Excellent Company And Stock' With Reach Beyond COVID-19

Why It Matters: Moderna was the best performing stock on the Nasdaq Composite in the second quarter of 2021, with a gain of 79.4%. The stock’s year-to-date returns stand at 123.36%.

Revenue from the COVID-19 vaccines has significantly contributed to Moderna’s top-line growth.

It was reported last month that Moderna’s vaccine was approved for restricted emergency use in India, one of the countries worst affected by the second wave of the pandemic. The Delta variant was first identified in India.

Price Action: Moderna’s shares closed 0.4% lower in Tuesday’s regular trading session at $233.34 and further declined almost 0.3% in the after-hours session to $232.69.

Read Next: Understanding Moderna's Unusual Options Activity

Photo by Marco Verch on Flickr