Moderna (NASDAQ: MRNA) saw its shares jump in 2021 and 2022 on the back of strong sales of its COVID-19 vaccine Spikevax. Now that those sales are slumping, the biotech company's shares have fallen more than 27% this year.

For long-term-minded investors, this provides an opportunity to buy an up-and-coming company on the dip -- and at a price that is only eight times forward earnings. 

Spikevax helped prove to the world the effectiveness of messenger RNA (mRNA) technology. The company advanced three COVID-19 vaccines from phase 1 to commercial status in a year. It has two other promising vaccine candidates -- mRNA-1345 for respiratory syncytial virus (RSV) and mRNA-1010 for the flu -- that have traveled from phase 1 to phase 3 in two years and could soon be approved by the Food and Drug Administration (FDA).

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Source Fool.com