On Thursday morning, the BioNTech share suddenly came under pressure. The biotech stock was already in the red before that, but within a few minutes on the Frankfurt Stock Exchange it expanded from 74.60 euros to 69.70 euros. There is no bad news from the Mainz company. Instead, technical market and chart effects can be seen.
Some stoploss marks seem to have been torn here. In the current re-emerging uncertainty regarding the corona pandemic, prices on the stock market are currently falling across the board. With the BioNTech share, of all things, the share of a company that is at the forefront of the development of a vaccine candidate, if not at the top, and thus the great hopes in the fight against COVID-19 and the Corona virus. Pandemic is. “Stock market crazy” …
We had already reported this morning that BioNTech still on schedule with the development of the corona vaccine sees. The side effects of the vaccine are in line with expectations, as shown by the current broad clinical trial of the third phase. There are apparently no safety problems at BioNTech like with other vaccine projects: While two other pharmaceutical companies had to interrupt studies with vaccine candidates, BioNTech and its development partner Pfizer see no reason to do so.
The fact that shares are thrown onto the market on a broad front when there is great uncertainty on the stock exchange is nothing too new and was already evident during the Corona crash in the first quarter of 2020. In the case of the BioNTech share, technical sales signals were added, which arose in the euro chart of the biotech share at the signal mark around EUR 74/75. This has put further pressure on the share price – it is already volatile and, after a downward movement from 93.99 euros to 46.13 euros, it climbed back up to 82.79 euros, which was only reached yesterday. BioNTech’s shares will remain volatile in the coming weeks, driven mainly by the upcoming news about the vaccine against the pandemic pathogen, the SARS-CoV-2 virus.
More about biotech stocks on 4investors: click here
At a glance – chart and news: BioNTech