CNBC’s Jim Cramer Pumps Brakes on Moderna Vaccine Breakthrough: I Want to See if Anyone at Moderna Sold Their Stock

Pharmaceutical company Moderna went public with a breakthrough in their clinical trials of a coronavirus vaccine Tuesday, but one noted financial analyst is throwing some cold water on the news.

Wednesday morning on CNBC, Jim Cramer pumped the brakes on the Moderna breakthrough. Moderna shares skyrocketed to 87 at the open Wednesday, from a Tuesday close of 75. (Although it’s down to 79 as of this writing.) And before Cramer buys that the company is truly on the verge of a vaccine, he wants to know if anyone at the company has dumped their stock.

“There’s one document that I want to see,” Cramer said. “I want to see if anyone sold any stock at Moderna today or tomorrow. Because that will really determine to me whether this thing has just got to … put a total asterisk.”

The Moderna vaccine is advancing to Phase 3 trials after concluding, from Phase 2 results, that the vaccine produced immunity to the virus, and worked safely, in 45 people. The study participants got two doses of the vaccine 28 days apart. After the second dose, all 45 people developed antibodies. The participants did have side effects such as headaches, chills, and fevers.

Cramer believes that if the Moderna vaccine is the real deal, thenthe company’s executives will hang onto their shares.

“Memo to Moderna: You don’t have to sell!” Cramer said. “Just sit on it!”

Watch above, via CNBC.

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