Why Dynavax, Novavax, and Vir Biotechnology Stocks Jumped Today
The stocks of several biotechs focused on developing treatments and vaccines for COVID-19 jumped on Wednesday. Shares of Dynavax Technologies (NASDAQ: DVAX) were up 4% as of 3:13 p.m. EDT today after rising as much as 10.1% earlier in the day. Novavax (NASDAQ: NVAX) was up 13.4%, and shares of Vir Biotechnology (NASDAQ: VIR) were soaring 16.8% higher.
None of these companies reported news today. But the overall stock market fell on concerns about the increased number of COVID-19 cases in the U.S. This bad news translated to good news for Dynavax, Novavax, and Vir as investors scooped up shares of the key players in the fight against the coronavirus.
Image source: Getty Images.
Source Fool.com
