Pfizer Stock Topples Despite New CDC Guidance For Covid Boosters

Pfizer stock continued a two-day dive Tuesday even after the Centers for Disease Control and Prevention shortened the window for its Covid booster to five months.

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The CDC decision impacts all recipients of the Pfizer (PFE) and BioNTech (BNTX) vaccine. Previously, the booster was allowed six months after recipients completed their primary two-dose series. Recipients of the Moderna (MRNA) and Johnson & Johnson (JNJ) vaccines can get boosters at six months and two months, respectively.

Further, the CDC will now allow immunocompromised 5-11 year-olds to receive a third dose of the Covid vaccine from Pfizer and BioNTech 28 days after their second.

But on the stock market today, Pfizer stock toppled 3.7% to 54.53. Shares of its partner, BioNTech, also fell 3.4% to 224.09.

Pfizer Stock: New Guidance For Boosters

The guidance change comes as the omicron variant rips through the U.S.

According to the CDC, the new variant now accounts for more than 95% of cases in the country. Delta, the previous leading mutation, accounts for less than 5% of cases today. Omicron’s spike protein has mutations that help it elude antibodies generated by vaccines and/or previous infections.

On Monday, the Food and Drug Administration signed off on the Pfizer/BioNTech booster shot for teens age 12-15. The CDC’s advisory committee will discuss the matter on Wednesday. If successful, the third shot could launch in the coming days to weeks. Still, Pfizer stock has trended down over recent weeks.

“Following the FDA’s authorizations, today’s recommendations ensure people are able to get a boost of protection in the face of Omicron and increasing cases across the country, and ensure that the most vulnerable children can get an additional dose to optimize protection against Covid-19,” CDC Director Rochelle Walensky said in a written statement.

But following the news Monday, Pfizer stock toppled more than 4%. BioNTech shares also fell north of 10%.

Highly Rated Pharma Stock

Pfizer stock remains well above its key moving averages, according to MarketSmith.com.

Shares have a Relative Strength Rating of 96 out of a best-possible 99. This means Pfizer stock trades in the leading 4% of all stocks in terms of 12-month performance, IBD Digital shows.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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