Because the resurgence of COVID-19 cases is increasing the demand for vaccines, shares of vaccine-producing companies Moderna (NASDAQ:MRNA) and Inovio Pharmaceuticals (NASDAQ:INO) should benefit. But which of these stocks is a better buy now? Let’s find out.Moderna, Inc. (MRNA) in Cambridge, Mass., and Inovio Pharmaceuticals, Inc. (INO) in Plymouth Meeting, Pa., are two major biotech companies engaged in COVID-19 vaccine development. While MRNA’s vaccine is already being administered with the FDA’s emergency use authorization (EUA), INO’s DNA COVID-19 vaccine candidate is set to move to Phase III in Brazil.
The resurgence of COVID-19 cases due to its Delta variant's rapid spread is hiking demand for vaccines. The COVID-19 vaccine market is expected to grow at a 7.6% CAGR to $19.50 billion by 2026. Given this backdrop, both MRNA and INO should benefit.
But while INO’s shares lost 26.3% in price over the past nine months, MRNA’s have surged 178.1%. MRNA is also a clear winner with 14.7% price gains versus INO’s 2.7% returns over the past month. But which of these stocks is a better pick now? Let’s find out.