Pfizer and BioNTech provided a final update for their COVID-19 vaccine
Once again, Pfizer Inc. (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) are dominating headlines, after the two drugmakers announced their coronavirus vaccine candidate was 95% effective as its final result. Pfizer also said it plans to seek U.S. Food and Drug Administration (FDA) approval within days.
As a result of today's announcement, PFE is up 3.2%, last seen trading at $37.27. Pfizer stock soared to annual highs last time we reported on the company's vaccine update. Though it pulled back slightly since then, the equity has risen above the $37 level once again, with a floor of support near $35. Additionally, PFE is just shy of its year-to-date breakeven mark.
Meanwhile, BNTX is up 4.5% to trade at $90.80. Similarly, when we last checked on BioNTech stock following the vaccine update, the equity surged to an all-time high of $115. While the equity has pulled back over the last three sessions, the 40-day moving average has been a steady leg of support. In fact, the security remains up 163% in 2020.
In the options pits, bulls are still running amuck, with BNTX and PFE seeing 50-day call/put volume ratios of 3.73 and 8.51, respectively, at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Both ratios show calls handily outpacing puts, indicating a heavy preference for bullish over bearish bets of late.