CNBC host Jim Cramer believes biotechnology company Moderna Inc. (NASDAQ:MRNA) is an “excellent company and stock” that has a reach far beyond COVID-19.  

What Happened: Cramer made the comments on Twitter.

let me just say, though, i think Moderna will do far more than covid and is an excellent company and stock.

— Jim Cramer (@jimcramer) June 23, 2021

On CNBC’s “Mad Money Lightning Round” earlier this month, Cramer said he prefers Moderna stock over Novavax Inc. (NASDAQ:NVAX).

“I have to tell you even after today’s run in Moderna, I still prefer Moderna’s stock than Novavax because I think that Moderna can do a lot more with its formulation than Novavax ever can,” Cramer said.

See Also: The Daily Biotech Pulse: Gemini Sinks On Data, Amgen's Migraine Drug Approved In Japan, Liver Congress Gets Underway

Why It Matters: Shares of Moderna and other COVID-19 vaccine companies – Pfizer Inc. (NYSE:PFE) and its German partner BioNTech SE (NASDAQ:BNTX) - fell in Wednesday’s trading session after a report prepared by a CDC safety group warned about the risk of heart inflammation in young adults receiving COVID-19 vaccines.

Both Moderna and Pfizer-BioNTech recently received authorizations for use of their mRNA vaccines in adolescents. Revenue from the COVID-19 vaccines has significantly contributed to the companies' top-line growth.

Meanwhile, Novavax is on the verge of getting conditional approval for its coronavirus vaccine candidate, NVX-CoV2373. The company recently reported positive results for the U.S. leg of the Phase 3 trial of its vaccine candidate.

Price Action: Moderna shares closed 4.2% lower in Wednesday’s trading session at $212.04.

Read Next: 14 Biotech Stocks To Watch Over The Next 6 Months

Photo by Governor Tom Wolf on Flickr