Joseph Prezioso / AFP via Getty Images
- Retail investors have bought the highest amounts of stock in Moderna and Pfizer in 8 months, Vanda Research said Wednesday.
- Individuals have purchased a combined $180 million in shares as COVID-19 vaccine cases continue to rise.
- Moderna's stock has jumped in value since mid-July with its inclusion into the S&P 500 index.
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Individual investors have bought more stock in Moderna and Pfizer in recent sessions than they have since late last year, spurred in part by the increasing spread of the Delta strain of coronavirus, figures released by Vanda Research on Wednesday showed.
Combined net inflows into the stocks reached $180 million over the last 10 days, the largest amount since each company unveiled positive COVID-19 vaccine trial results in November, led by Pfizer's announcement on November 9.
Moderna shares have jumped by 20% through Tuesday from July 21, when the biotech firm joined the benchmark S&P 500 index in acknowledgment of the stock's growth since its vaccine announcement. Meanwhile, Pfizer shares since last week have climbed by more than 9%, trading around all-time highs above $45, after the company increased its 2021 guidance for COVID vaccine sales.
"The rise in global cases of the delta variant, the imminent FDA approval and the rise in vaccine prices have all coalesced to turbocharge the rally," said Vanda.
The Financial Times this week reported that Pfizer and Moderna have raised the prices of their COVID vaccines in their latest supply contracts with the European Union. Higher prices would come at a time of increasing coronavirus infections worldwide led by the highly transmissible Delta variant. Delta is the dominant strain in the US and the country is reporting more than 75,000 COVID cases a day, higher than a low point of roughly 11,000 cases a day six weeks ago, according to the Washington Post.
Meanwhile, the Food and Drug Administration has accelerated its timetable to fully approve the coronavirus vaccine from Pfizer and its partner, BioNTech, with the aim of finishing the process by the start of next month, The New York Times reported Tuesday. Moderna, whose vaccine is the second most widely used in the US, is still submitting data following its June filing for final approval, the report said.
Stock in Moderna and Pfizer were standouts during a summer lull in US equity purchases by retail investors which have dropped to their lowest level since May, said Vanda.