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Here's Why BioNTech Lost 18.7% in April

TheMotleyFool

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Shares of BioNTech (NASDAQ: BNTX) tumbled nearly 19% last month, according to data from S&P Global Market Intelligence. That doesn't compare favorably with the 12.7% gain of the S&P 500 during that time, but it was simply a matter of timing.

Shares of the German biotech soared in March after the company announced it had partnered with Pfizer (NYSE: PFE) to develop a vaccine against the SARS-CoV-2 virus that causes COVID-19. In other words, the decline in April was really just a correction. Through May 1, the pharma stock has gained 33% since the beginning of the year, while the S&P 500 has declined 12.4%.

Image source: Getty Images.

Source Fool.com

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