Demand for Covid boosters is waning, according to a recent IBD/TIPP Poll, which sheds some light on continued pressure for vaccine stocks.
Roughly four in 10 people have received three Covid shots — two primary doses of messenger RNA vaccines plus a booster — the April poll shows. The results line up with the Centers for Disease Control and Prevention count, which shows about 45% of eligible people have received three doses.
The results come shortly after the Food and Drug Administration signed off on a fourth shot from Moderna, and Pfizer with its partner BioNTech, for people age 50 and above. Just 11% of those surveyed this month say they've sought out a second booster dose.
On the stock market today, BioNTech stock rose 0.2% to 170.55. Pfizer stock fell 2.3% to 53.93. Moderna shares lost 0.5% and ended the regular session at 160.
Vaccine Stocks: Holdouts Remain
Covid continues to become less of an issue, according to respondents to the IBD/TIPP Poll. Just 8% of those surveyed identified the novel coronavirus as a top issue facing the U.S. today. That's down from 9% in March, 24% in February and 33% in January.
The concern in January and February came as the omicron variant swept across the globe. But omicron's B.A. 2 cousin hasn't caused the same concern. Instead, IBD/TIPP respondents say the top issues facing the U.S. remain the economy, Russia and the lack of trust in politicians/government.
Meanwhile, pure-play vaccine stocks remain at low points. Shares of Moderna and BioNTech hit peaks in November but have since dropped off a respective 57% and 54%.
While 69% of respondents have received at least two shots, another 21% are holdouts, saying they don't have any plans to seek a Covid jab. Just 4% say they haven't been vaccinated but plan to do so.
Respondents Support Some Vaccine Requirements
A bullish point for vaccine stocks: The majority of people support some vaccine requirements, such as required vaccination for work, school, travel and shopping. Less than half, 49%, say vaccines should be required to attend church in person.
Still, it's becoming more of a show-me story for at least two vaccine stocks. BioNTech and Moderna proved their platforms with their Covid shots. But, after their wild success post-2020, they have just one product apiece on the market: their Covid vaccines. Now, analysts expect sales to decline after 2022.
Betting on Covid booster demand hasn't helped the vaccine stocks.
Both are also working on other infectious diseases and have efforts ongoing in cancer treatment. In fact, BioNTech just inked a deal with Matinas Biopharma to test out a new delivery mechanism for messenger RNA shots. But that didn't help the vaccine stock. And it could take years for that effort to generate sales, if ever.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
