COVID Activity Is Elevated Across 26 States In Summer Surge, Biden Remains In Isolation: 3 Vaccine Stocks To Watch
Portfolio Pulse from Michael Juliano
COVID-19 activity is elevated in 26 U.S. states, with President Biden in isolation after contracting the virus for the third time. The Biden administration now treats COVID-19 as a routine respiratory virus. Vaccine stocks to watch include Novavax, Moderna, and Pfizer, all of which are developing new vaccines targeting recent variants. Shares of these companies, along with ETFs holding Pfizer, saw declines in Thursday's trading session.
July 18, 2024 | 7:59 pm
News sentiment analysis
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NEGATIVE IMPACT
First Trust Morningstar Dividend Leaders Index Fund, which holds shares of Pfizer, slipped 0.69%.
The ETF's decline is influenced by Pfizer's share price drop, reflecting broader market sentiment towards dividend-paying pharmaceutical stocks.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
First Trust Nasdaq Pharmaceuticals ETF, which holds shares of Pfizer, fell 0.35%.
The ETF's decline is linked to Pfizer's share price drop, reflecting broader market sentiment towards pharmaceutical stocks.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Harbor Health Care ETF, which holds shares of Pfizer, lost 0.33%.
The ETF's decline is linked to Pfizer's share price drop, reflecting broader market sentiment towards healthcare stocks.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Moderna is developing a new COVID-19 vaccine targeting the KP.2 variant. Shares were down 2.16% to $121.37.
Moderna's share price decline indicates investor caution despite the new vaccine development. The short-term impact is likely negative due to broader market sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Novavax is developing a new COVID-19 vaccine targeting the JN.1 variant. Shares were down 5.7% to $14.94.
The decline in Novavax's share price suggests investor concerns despite the development of a new vaccine. The elevated COVID-19 activity may not be enough to offset these concerns in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Pfizer is developing a new COVID-19 vaccine targeting the KP.2 variant. Shares were down 1.07% to $29.70.
Pfizer's share price decline reflects investor concerns despite the new vaccine development. The short-term impact is likely negative due to market sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Invesco Pharmaceuticals ETF, which holds shares of Pfizer, slid 0.55%.
The ETF's decline is linked to Pfizer's share price drop, reflecting broader market sentiment towards pharmaceutical stocks.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Invesco S&P Ultra Dividend Revenue ETF, which holds shares of Pfizer, declined 0.66%.
The ETF's decline is influenced by Pfizer's share price drop, reflecting broader market sentiment towards dividend-paying stocks.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50