Why Moderna, BioNTech SE, and Novavax Surged Today
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Shares of vaccine developers (NASDAQ: MRNA), BioNTech SE (NASDAQ: BNTX), and Novavax (NASDAQ: NVAX) rallied hard on Monday, up 9.3%, 6.5%, and 13%, respectively in the day's trading.
COVID-19 cases and hospitalizations are back on the rise, thanks to new mutations, especially one nicknamed Eris. Late last week, both Moderna and BioNTech's partner Pfizer (NYSE: PFE) each announced preliminary studies of their new mRNA boosters developed for the XBB variant were effective against Eris, as well as other strains currently on the rise in the U.S. On Monday, the Biden administration announced a fall campaign to get people to get new boosters, further "boosting" the pro-vaccine sentiment today.
While Moderna, BioNTech, and Novavax's futures will depend on their pipeline of new vaccines for other diseases beyond COVID, the new variants present an opportunity to generate more revenue and earnings in the near term this fall.
Source Fool.com
Moderna Inc. Stock
Currently there is a rather positive sentiment for Moderna Inc. with 11 Buy predictions and 8 Sell predictions.
However, we have a potential of -61.96% for Moderna Inc. as the target price of 21 € is below the current price of 55.21 €.
