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Vaccine Stocks Benefit From Covid-19 Variant Concerns -Breaking

by Mike Robinson

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Sam Boughedda

Investing.com — After concerns about the existence of a coronavirus variant that could be transmitted to South Africa from Covid-19, vaccine stocks related to Covid-19 made gains on Friday.

Concerns have been raised over the possibility that this variant could evade vaccines. Stocks like Pfizer Inc (NYSE:), BioNTech SE (NASDAQ:), Moderna Inc (NASDAQ:), Inovio Pharmaceuticals Inc (NASDAQ:), Novavax Inc (NASDAQ:), Vir Biotechnology Inc (NASDAQ:), among others, have seen a surge. 

Pfizer shares rose 6%. Moderna rose 23%. Novavax shares increased by more than 9 percent, and Inovio shares rose over 8%. Vir gained 16%. The Vir lost more than 2 points (or 850) in the morning trading.

According to Reuters BioNTech claimed that they expect more data about the new variant within two weeks. It also stated that if needed, the company would be able redesign the vaccine within six weeks and to deliver batches in 100 days.

Some European countries are already seeing a reintroduction in lockdown restrictions. The cases have been increasing again. Additionally, some experts have called the variant “most alarming” but scientists continue to work to determine its consequences.

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