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Why BioNTech Stock Sank Today

TheMotleyFool

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Coronavirus stock BioNTech (NASDAQ: BNTX) isn't having a good time of it lately. On Wednesday, the company's shares slid yet again, falling by nearly 6% after another coronavirus stock posted good news, and an analyst cut her price target on the biotech's shares.

On Tuesday, fellow COVID vaccine developer Moderna happily announced that the European Medicines Agency (EMA) authorized a third dose of its two-shot mRNA-1273 (brand-named Spikevax) for severely immunocompromised people age 12 and older. That's a big deal, since the EMA covers the sprawling 27-member European Union.

Image source: Getty Images.

Source Fool.com

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