Vaccine Sector Rally Over for These 2 Stocks

Both stocks are still eyeing impressive year-to-date wins, however

Digital Content Manager
Dec 29, 2021 at 9:36 AM
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Vaccine stocks have been in a recent downfall, and getting hit particularly hard are Moderna Inc (NASDAQ:MRNA) and BioNTech SE (NASDAQ:BNTX). At last check, MRNA was down 1.3% to trade at $238.36, while BioNTech stock was last seen down 3% at $234.20. 

Both stocks are extending lengthy losing streaks. Starting with BNTX, the security is pacing for its seventh-daily drop, marking its longest slump since late August. The recent drop has put the stock back below long-term support at its 200-day moving average, though the shares look ready to ring in the new year with an over 196% lead for 2021. 

Moderna stock hasn't fared much better, as its also headed for its seventh-straight loss, which would be its longest daily lose streak since June 2019. Similarly to BNTX, MRNA still sports an impressive year-to-date lead of 131%, though today's dip could put the stock south of recent support at the $240 area. 

Analysts seem to have predicted this selloff, as the brokerage bunch has been hesitant on both stocks. Currently, all but one of the seven covering BNTX call it a "hold." Meanwhile, Moderna stock has enjoyed a slightly better reception, with five "strong buy" ratings to its name, however, the eight others in coverage consider it a "hold" or worse. 

 

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