Why Was Vir Biotechnology Up 74% in February?
Shares of Vir Biotechnology (NASDAQ: VIR) jumped 74.6% in February, according to data provided by S&P Global Market Intelligence. In fact, the entire year has been fantastic for this stock. Vir is up a startling 264% since Jan. 2, compared to an almost 10% loss for the S&P 500.
Why the dominant outperformance? Vir is one of a handful of virus specialists whose stocks have shot up like a rocket this year. The market is rewarding the biotech for its coronavirus program, in the hopes that Vir will find a vaccine or treatment for COVID-19.
Of course it's way too early for trial data, and it will likely be years before any drug is approved by the Food and Drug Administration (FDA). Nonetheless, in a COVID-19 meltdown, small-cap stocks focused on finding a solution are market darlings.
Source Fool.com
