BioNTech Stock Boosted on Vaccine Buzz

The company is also gearing up for its latest earnings report

Deputy Editor
Nov 4, 2022 at 10:28 AM
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Stocks in China are abuzz with reopening rumors this week, leading investors to speculate on their subsequent rallies and whether or not they will be short-lived. Amid the potential easing of Covid restrictions, Germany-based BioNTech SE (NASDAQ:BNTX) is getting a boost today, after The Wall Street Journal reported that China agreed to approve the biotech concern's Covid-19 vaccines for foreign residents in China. 

This news comes one day after BioNTech and its partner, Pfizer (PFE), announced that they will start a combination vaccine study fixated on Covid-19 and influenza. The two companies also today shared new upbeat data from a phase 2 trial of their omicron Covid-19 booster.

BNTX is up 4.8% at $152.21 at last check, and was earlier trading as high as $156.80 -- its highest level since mid August. Currently, the stock is grappling with its 200-day moving average, which it rose above today for the first time since the start of the year. Year-to-date, the equity is down 41.1%. 

Amid the reports, options bulls are taking an interest in BNTX, with 2,413 calls across the tape so far -- 13 times the intraday average. Expiring today, the weekly 11/4 160-strike call is the most popular, with new positions opening there. 

It's also worth noting that BioNtech is set to announce its latest earnings report before the open on Monday, Nov. 7. The stock has a history of mostly positive post-earnings reactions, with six of its last eight next-day sessions closing higher. The options pits are pricing in a post-earnings move of 8.2% this time around, regardless of direction, which is slightly higher than the 7.5% swing the stock has averaged over those last two years. 

 

 

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