95.16 -0.49 (-0.51%)
After hours: 7:20PM EDT
|Bid||93.62 x 1100|
|Ask||95.73 x 800|
|Day's range||93.84 - 97.31|
|52-week range||36.15 - 151.80|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||84.41|
“Buy on weakness,” we suggested last month in relation to CureVac, the vaccine maker. Well, there has been plenty of weakness: the shares stand 25pc below where they were when that column appeared. It is not the only vaccine maker to suffer a severe fall in its share price over the past few weeks. BioNTech, whose technology lies behind the Pfizer vaccine, has suffered a 20pc fall since mid-February and Moderna’s shares are 28pc lower over the same period. What is going on? Almost everyone on earth wants to get their hands on these companies’ products and countries are fighting over their supplies, so why does no one want their shares all of a sudden? In Questor’s view, the share price falls have nothing to do with vaccines or these companies and everything to do with shifts in the stock market – shifts, ironically, prompted by the success of those very vaccines. Investors are clearly lumping the vaccine makers in with technology stocks, or indeed growth stocks more generally, and have conceived an aversion to both on the basis that economic conditions will start to favour “value” stocks instead.
The global coronavirus pandemic is spurring a boom in health care investments, as companies large and small try to combat the infectious disease. Biotechs, in particular, have seen a boom in interest, as investors look to bet on what could be the next Moderna (MRNA).
We often see insiders buying up shares in companies that perform well over the long term. Unfortunately, there are also...