Ten Best And Worst Performing Biotech Stocks Amid Covid-19

Dozens of pharma and biotech stocks have skyrocketed in the last few months amid the COVID-19 pandemic. The companies are spending heavily on research and development to find a treatment or vaccine for the coronavirus. Typically, most pharma and biotech companies spend about 20% of their revenue on R&D activities. But the R&D spending will likely shoot up this year. Here we take a look at the top ten best and worst performing biotech stocks this year (as of July 16, 2020).

The coronavirus cases are setting new records not only in the US but in other countries as well. The total number of cases has surpassed 14 million worldwide. The pandemic has claimed at least 593,000 lives. The US alone accounts for a quarter of the global cases and deaths.

Best performing biotech stocks

Best Performing Biotech Stocks

 

Nasdaq-listed Novavax is the best performing biotech stock this year so far. The Gaithersburg, Maryland-based biopharma company is developing a coronavirus vaccine. It is among the front-runners in COVID-19 vaccine development. Novavax recently joined the US government’s Operation Warp Speed program. It has received a staggering $1.6 billion from the government to speed up the development of its coronavirus vaccine.

Novavax stock has shot up from $4.5 at the beginning of this year to $120.29 on July 16. It’s still trading far below its 2001 high of $290 per share. It is followed by CytoDyn, which has gained 449% year-to-date. The company is testing its leronlimab drug as a treatment for COVID-19. Leronlimab is an experimental HIV drug.

Moderna stock is up 318.25% this year so far. Moderna was the first biotech company to start human trials for a candidate vaccine against the novel coronavirus. Its mRNA-1273 vaccine candidate entered the Phase-1 clinical trials on March 16th. The company also has many other products in the pipeline for solid tumors, Cytomegalovirus Infectious Disease, and lymphoma.

Vir Biotechnology shares have rallied 291.49% YTD. The San Francisco-based company announced in April that it has joined hands with GlaxoSmithKline to develop treatments for COVID-19. GSK agreed to invest $250 million in Vir Biotechnology as part of the deal.

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Disclaimer: The opinions in this document are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit ...

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