Moderna, Biontech rally stalls ahead of CDC meet

The huge rally for Covid-19 vaccine makers has stalled as Wall street waits for the United states Centers for Disease Control and prevention (CDC) to weigh in on whether americans should get a third shot.

on monday, a meeting of outside advisers to the agency could finally give investors a sense of clarity.

moderna inc., which became the best performer in the s&p 500 index after its stock price more than tripled this year, has slid 21 percent from its record high in early august. Biontech se, which has surged more than four-fold in 2021, has fallen almost as much over the past three weeks, while its Us partner, pfizer inc., is off more than 7 percent from its peak.

The retreat comes as the pace of the american inoculation campaign slows, leaving investors divided over how much growth to expect from the manufacturers. That rift has only deepened after president Joe Biden administration promised that booster shots will be made available to most americans, which would be a major source of demand if regulators endorse that step.

The administration’s aim to push through new guidelines in late september, however, has been met with skepticism by some medical experts. The CDC as well as the Us Food and Drug administration have to approve the plan before it can be implemented and that backing isn’t guaranteed.

That uncertainty is likely to continue fueling volatility in the stocks. options imply that moderna and Biontech could move roughly 7 percent in either direction over the next week while pfizer’s stock may move about 3 percent.