Moderna, BioNTech, Novavax Surge After CDC Reports Two-Week Covid Spike

Moderna (MRNA) stock surged Tuesday — retaking its 50-day line for the first time since June — after the Centers for Disease Control and Prevention noted a two-week spike in positive Covid tests.

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Over the past two weeks, there's been a 6.3% jump in cases, according to the CDC. The past week saw an increase of 7.1% in test positivity.

The news is a boon for Moderna, BioNTech (BNTX) and Novavax (NVAX). While Moderna sells two products, the Covid vaccine Spikevax is easily its biggest moneymaker. BioNTech and Novavax's Covid shots make up the entirety of their product sales.

In morning trades, Moderna stock popped more than 11% to 47.28, while BioNTech shares rose more than 5% to 127.36. BioNTech stock is consolidating with a buy point at 131.49. Novavax shares jumped 12% to 10.93, rising in line with its 200-day moving average, according to MarketSurge.

Could A Late Covid Season Bolster Moderna Stock?

The lion's share of Covid vaccine sales typically take place in the fourth quarter during the fall vaccination campaign. But a late surge in Covid cases could help extend that season.

According to the CDC, the Pacific Northwest has seen the biggest increase in positive tests over the week that ended Dec. 28, up 11.2%. Regions in the northern parts of the U.S. trailed with the smallest increases in positive tests mostly coming from the southern half of the country.

Moderna stock has long been tied to the incidence of Covid in the U.S. and abroad. Analysts call for the company to report $997 million in fourth-quarter sales. But they also expect that to dwindle to $138 million in the first quarter, according to FactSet.

Similarly, BioNTech is projected to notch $1.11 billion in fourth-quarter sales, but a much smaller $281 million in the first quarter. And analysts expect Novavax's $102.7 million in fourth-quarter sales to fall to $47.5 million in the first quarter.

Follow Allison Gatlin on X/Twitter at @IBD_AGatlin.

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