Vaccine makers see stock price boost on Biden admin COVID shot push
Stock prices for leading COVID vaccine makers trended up Monday
The Ken Coleman Show host Ken Coleman discusses Bidens push to end remote work for federal employees on The Big Money Show.
The Biden administration’s plans to encourage Americans to get another COVID vaccination later this year resulted in vaccine makers’ stock prices getting a boost during Monday’s trading.
Moderna’s stock was up 9.3%, while BioNTech’s share price rose by 6.5% and Novavax by 13% as of Monday afternoon prior to the closing bell. Pfizer’s stock price posted a more modest gain of nearly 1%.
This comes amid reports that Biden administration officials are planning to promote the latest iterations of the COVID vaccine as they become available in September in the interest of getting ahead of a potential uptick in cases this fall as colder temperatures set in.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MRNA | MODERNA INC. | 39.51 | +2.66 | +7.22% |
| BNTX | BIONTECH SE | 101.87 | +2.15 | +2.16% |
| NVAX | NOVAVAX INC. | 7.83 | +0.51 | +6.97% |
| PFE | PFIZER INC. | 24.86 | +0.06 | +0.24% |
BIDEN ADMIN TO RENEW PUSH FOR AMERICANS TO GET COVID-19 BOOSTERS
The Biden administration is planning to call for Americans to get the latest COVID vaccine this fall, news of which gave vaccine makers' stock prices a boost. (Hannah Beier/Bloomberg via Getty Images / Getty Images)
The new iterations of the COVID vaccine are being designed to address the latest variants of coronavirus, such as the "Eris" variant that's currently the predominant strain of coronavirus in the U.S.
The administration is also working to provide free COVID vaccines for uninsured Americans, although it’s unclear whether those will be available at retail pharmacies from the outset as the Centers for Disease Control and Prevention (CDC) is reportedly in negotiations with companies like CVS and Walgreens on those contracts.
PFIZER'S UPGRADED COVID-19 VACCINE SHOWS EFFECTIVENESS AGAINST EMERGING 'ERIS' SUBVARIANT
Biotchnology firm Novavax is developing a new coronavirus vaccine. (REUTERS/Frank Simon/File Photo / Reuters)
COVID-related hospital visits and hospitalizations remain relatively low compared to the surges of the pandemic era, even as an uptick in infections has been reported, according to CDC data.
The Biden administration hopes that vaccination will ensure hospitalizations remain low to prevent meaningful disruptions to Americans’ day-to-day lives.
The Department of Health and Human Services (HHS) and the White House’s Office of Pandemic Preparedness and Response Policy are expected to lead the rollout, which is expected to begin in earnest during the second half of September, according to a report by Politico.
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Aside from COVID vaccinations, the administration is also encouraging Americans to get an annual influenza vaccination in addition to a shot for respiratory syncytial virus (RSV) — both of which are common respiratory illnesses that can cause more severe complications in some cases.
Elevated levels of flu and RSV cases occurred as COVID restrictions eased, which left the U.S. facing a so-called "tripledemic" during the winter months of 2022 and 2023.
FOX Business’ Edward Lawrence contributed to this report.