- NYSE:PFE fell by 4.06% during Monday’s trading session.
- The FDA approved booster shots for children ages 12-15.
- Investors seem to be concerned that booster shot sales will eventually wane.
NYSE:PFE definitely started 2022 off on the back foot as vaccine stocks tumbled out of the gate despite the ongoing surge in COVID-19 cases around the world. On Monday, shares of Pfizer fell by 4.06% and closed the first trading session of the year at $56.65. It was red across the board for vaccine makers as Pfizer’s German running mate BioNTech (NASDAQ:BNTX) fell by 10.07% and Moderna (NASDAQ:MRNA) also plummeted by 7.45%. The rest of the markets were doing just fine though as the S&P 500 and Dow Jones both climbed higher to new all-time highs, while the tech-heavy NASDAQ kicked the year off with a 1.20% gain to lead the major indices.
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Despite Pfizer’s stock falling on Monday, all of the news that came out from the company should be considered positive for investors. The FDA officially authorized COVID-19 booster shots for children between the ages of 12 and 15, and even shortened the period between the second dose and the booster to five months. Additionally, the FDA also authorized a booster shot for children ages 5 to 11, who have compromised immune systems and are at higher risk of serious infection.
Pfizer stock forecast
Part of the pessimism surrounding vaccine stocks has been the ongoing rhetoric that COVID-19 vaccines and booster sales will be temporary. As herd immunity kicks in and humans grow stronger to the virus, the need for vaccine doses will certainly wane. Still, as numbers continue to rise around the world, Pfizer should still see high demand for its vaccine and Paxlovin, its antiviral pill, for the remainder of 2022. Forward-looking investors will likely have their eyes peeled for vaccine orders for 2023 and beyond.
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