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18.06.2021 11:47:00

Why BioNTech, Moderna, and Novavax Stocks Sank This Week

This week hasn't been a great one for COVID-19 vaccine stocks. Shares of BioNTech (NASDAQ: BNTX) were down 10.2% for the week, as of the market close on Thursday. Moderna (NASDAQ: MRNA) stock fell 7.5%, and Novavax (NASDAQ: NVAX) tumbled 14.2%.The decline for Novavax might be the most puzzling. On Monday, the company announced overwhelmingly positive results from a late-stage study of its COVID-19 vaccine candidate that was conducted in the U.S. and Mexico.Novavax's good news explained, at least in part, why shares of BioNTech and Moderna fell. The increasing likelihood that another highly effective COVID-19 vaccine could soon be available could mean that the overall global market opportunity for BioNTech (along with its big partner, Pfizer) and Moderna could be reduced somewhat.Continue reading
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