Covid-19 Vaccine Maker Stocks Higher Amid Variant Concerns
November 26 2021 - 12:21PM
Dow Jones News
By Michael Dabaie
Shares of Covid-19 vaccine makers Moderna Inc., Pfizer Inc. and
BioNTech SE were higher Friday after South Africa raised alarms
about a fast-spreading new variant of the coronavirus.
Moderna shares rose 26% to $345.54 and Pfizer was up 5.5% to
$53.67, while American depositary receipts of BioNTech, which
collaborates with Pfizer on a vaccine, were 21% higher to
$369.11.
Equity markets were broadly lower amid concerns over the
variant, with the Dow Jones Industrial Average, Nasdaq and S&P
500 each down more than 2%.
"The scientific, political and economic focus on the Nu variant
is well founded despite the limited data," Citi said in commentary
on the new variant. "The next two weeks with be critical to
determine whether Nu will displace delta in countries with high
background rates such as U.K. and Germany."
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
November 26, 2021 12:06 ET (17:06 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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