Pfizer Inc. shares advanced 2.02% to $45.98 Monday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX falling 0.09% to 4,432.35 and Dow Jones Industrial Average DJIA falling 0.30% to 35,101.85.
Pfizer Inc. hit a new 52-week high, surpassing its previous peak of $45.86, which the company achieved on August 3rd. The stock outperformed some of its competitors Monday, as Johnson & Johnson JNJ rose 0.35% to $173.71, Merck & Co. Inc. MRK fell 0.16% to $75.32, and Novartis AG ADR NVS rose 0.54% to $91.81.
Pfizer Inc trading volume (32.2 M) eclipsed its 50-day average volume of 24.1 M.This was the stock’s second consecutive day of gains. With the surge of coronavirus infections pulling through much of the United States, the Food and Drug Administration has accelerated its timetable to fully approve Pfizer-BioNTech’s coronavirus vaccine, aiming to complete the process by the start of next month, people familiar with the effort said.
President Biden said last week that he expected a fully approved vaccine in early fall. The food and drug administration’s unofficial deadline is Labor Day or sooner. The agency said in a statement that its leaders recognized that approval might inspire more public confidence and had taken an all-hands-on-deck approach to the work.Although 192 million Americans 58% of the total population and 70% of the nation’s adults have received at least one vaccine shot, many remain vulnerable to the ultra contagious, dominant Delta variant.