Top 5 Losers on Tuesday

2. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 70

Shares of Pfizer Inc. (NYSE:PFE) slipped nearly two percent in mid-day trading Tuesday after the pharmaceutical giant announced that its vaccine is 73.2 percent effective in preventing coronavirus in young children.

The effectiveness percentage disclosed by Pfizer Inc. (NYSE:PFE) and BioNTech today was slightly lower than previous efficacy of 80.3 percent. The drop in efficacy apparently dragged down Pfizer shares this morning.

Pfizer Inc. (NYSE:PFE) studied 34 coronavirus cases in the latest study, compared to just 10 in the previous analysis. Back then, FDA also pointed towards the small number of participants in the trial, saying the cases were not enough to assess the efficacy of the vaccine.

Speaking on the development, CEO of Pfizer Inc. (NYSE:PFE), Albert Bourla, said:

“Building on the strong safety and immunogenicity data that led to FDA authorization of our COVID-19 vaccine for children 6 months through 4 years, we are pleased to share confirmatory evidence that a full course of vaccination helps protect against symptomatic disease, particularly during a time when the Omicron BA.2 strain was predominant.”