Why BioNTech Shares Are Rising During Monday's Session

BioNTech SE - ADR BNTX shares are trading higher by some 2.25% to $120.26 Monday. The stock is gaining today amid rising COVID-19 cases in the U.S.

Rising COVID-19 cases could result in increased demand for vaccines, including BioNTech's jointly developed Pfizer-BioNTech COVID-19 vaccine.

The heightened urgency to vaccinate could lead to more vaccine orders, positively impacting BioNTech's revenue and potentially driving up its stock price.

What Else?

Last week, during the first Republican primary debate, Florida Gov. Ron DeSantis proudly touted the way he handled the Covid-19 pandemic, claiming the Sunshine State "led the country out of lockdown, and we kept our state free and open."

Meanwhile, COVID-19 hospitalizations in Florida saw more than 1,870 new admissions in the week ending Aug. 12 — an increase of 11.6% from the prior week.

The situation reflects a larger trend across the country: More than 12,600 new admissions were recorded the week ending Aug. 12. That's an increase of 21.6% from the prior week, according to data from the U.S. Centers for Disease Control and Prevention...Read More

According to data from Benzinga Pro, BioNTech has a 52-week high of $188.98 and a 52-week low of $95.50.