Pfizer Stock Rises on Upbeat RSV Vaccine Trial Data

A shift in sentiment could boost PFE stock

Fernanda Horner

Digital Content Manager

Apr 9, 2024 at 10:25 AM

Pfizer Inc (NYSE PFE) stock is up 1.7% at $27.04 at last check, following news a late-stage trial of its respiratory syncytial virus (RSV) vaccine Abrysvo generated an immune response in higher risk adults under the age of 60. The company plans to seek expanded approval of the vaccine for ages 18 to 59.

Shares are still struggling with resistance at the $29 level, which has been in place since January and rejected a mid-March rally off 11-year lows. In the last 12 months, PFE shed 35.3%.

Short-term options traders lean bearish. This is per PFE's Schaeffer's put/call open interest ratio (SOIR) of 1.05 that sits at the top percentile of annual readings. This means a shift in sentiment could generate tailwinds for Pfizer stock.

There's also room for optimism in the options pits. In fact, 11 of the 20 brokerage firms in question still rate the security a tepid "hold," while the remaining nine say "buy" or better.

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