Covid Vaccine Stock Rises as New Variant Makes its Way Around

A new variant of the Covid-19 virus, BA.2.86, has infected people across the globe.

The new variant reportedly has many mutations. “We have not seen a new variant [in humans] with this many new spike mutations happening all at once since the emergence of the original Omicron,” said Jesse Bloom, an evolutionary biologist at Fred Hutch Cancer Center.

Previously, shares of Covid vaccine makers have been plummeting, but now with the emergence of the new variant and the rollout of updated shots this fall, shares are rising, CNBC reported. “Shares of Novavax closed more than 13% higher. Moderna’s stock closed more than 9% higher. Shares of BioNTech, which jointly develops Covid vaccines with Pfizer, closed more than 6% higher. Meanwhile, Pfizer’s stock ended around 1% higher.”

The new vaccines are said to protect against omicron subvariant, XBB.1.5. and EG.5. or “Eris.” However, it is unknown whether the new shots will protect against BA.2.86.

Last week, the Centers for Disease Control and Prevention said it was monitoring the new variant and public health guidance remains the same as other variants.