No. of Recommendations: 1
Shares of Pfizer (NYSE:PFE) hit a 52-week low on Wednesday after rival Moderna (MRNA) said its updated COVID-19 vaccine had been shown to generate a 'strong' immune response against the BA.2.86 variant in human studies.
Pfizer shares closed down 3% at $34.37. The shares hit a 52-week low of $34.26 earlier in the day and were down 33% year-to-date as of market close Wednesday.
According to Reuters, Pfizer said that their updated COVID-19 vaccine also elicits a strong response to the variant. The Pfizer data, however, was based on studies involving mice. Pfizer's partner on the vaccine is BioNTech (BNTX).
seekingalpha.com - Pfizer stock hits week low as moderna rolls out data on rival covid shot 