Does the Sell-Off of BioNTech and Moderna Stocks Present a Buying Opportunity?
For much of this year, BioNTech (NASDAQ: BNTX) and Moderna (NASDAQ: MRNA) stocks have soared. But shares of both vaccine makers sank on Friday, with the negative momentum carrying over into this week.
Blame it on Merck (NYSE: MRK). The big drugmaker and its small partner, Ridgeback Biotherapeutics, announced stellar results on Friday from a late-stage study of an oral COVID-19 therapy, molnupiravir.
Several of the leading vaccine stocks tumbled on Merck and Ridgeback's positive data. But does the sell-off of BioNTech and Moderna stocks present a great buying opportunity?
Source Fool.com