Why BioNTech, Moderna, and Novavax Stocks Are Jumping Today
Shares of several leading COVID-19 vaccine makers were jumping as of 10:44 a.m. ET on Monday. BioNTech (NASDAQ: BNTX) stock was up 6.2%. Shares of Moderna (NASDAQ: MRNA) were rising 5.7% higher. Novavax (NASDAQ: NVAX) stock was trailing not too far behind, with a 3.8% gain.
There was one common denominator behind the rise of these vaccine stocks. On Sunday, United Kingdom Prime Minister Boris Johnson warned that a "tidal wave" of COVID-19 cases in the country stemming from the omicron variant could be on the way. The U.K. is accelerating its booster program. Investors could be anticipating that other countries could be on a similar path.
In addition, two of the vaccine makers had other news that helped fuel their gains. Results from an Israeli study announced on Saturday appeared to confirm that a third shot of the COVID-19 vaccine developed by BioNTech and Pfizer (NYSE: PFE) could provide significant protection from the omicron variant. BioNTech and Pfizer announced laboratory study results last week that showed similar findings.
Source Fool.com
