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Why BioNTech Stock Is Falling Today

TheMotleyFool

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Shares of BioNTech (NASDAQ: BNTX) were 9.1% lower as of 11:51 a.m. EDT on Thursday. The German biotech didn't report any news, so why did its stock slide? You can probably blame Moderna (NASDAQ: MRNA).

Moderna announced its third-quarter results before the market opened on Thursday, and revenue and earnings were well below Wall Street's expectations. The company also lowered its full-year 2021 revenue outlook.

This disappointing report stemmed in large part from Moderna shifting deliveries of its COVID-19 vaccine from the second half of 2021 into 2022. The company's woes weighed on other vaccine stocks as well.

Source Fool.com

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