Here's Why Pfizer And Novavax Shares Are Rising On Monday

Pfizer Inc. PFE and Novavax, Inc. NVAX shares are trading higher by 4.3% at $52.42 and 9.6% at $80.05 respectively. Strength is possibly due to a spike in COVID-19 cases in China, which could lift vaccine sector sentiment.

A spike in COVID-19 cases has also caused some business operations to cease throughout China, and has in turn sent shares of several Chinese stocks lower for the session.

See Also: Here's Why Moderna Shares Are Rising On Monday

Pfizer is one of the world's largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 vaccine sales). 

Novavax Inc is a biotechnology company that develops vaccines. 

Pfizer has a 52-week high of $61.71 and a 52-week low of $34.51.

Novavax has a 52-week high of $277.80 and a 52-week low of $65.82.