Benzinga | Sep 29, 2021 02:28PM EDT

Why AstraZeneca And Pfizer Shares Are Moving Today

Major biotech and pharmaceutical companies such as AstraZeneca PLC (NASDAQ:AZN) and Pfizer Inc. (NYSE:PFE) have been some of the best investments to make throughout the COVID-19 pandemic.

Let's take a look at some of the major players in the biotech industry and see how they are moving today:

AstraZeneca:

AstraZeneca is trading 3.5% higher at $59.67 after the company annoucned it is acquiring Caelum Biosciences for $500 million. AstraZeneca is making this move to further its foothold in the rare disease market.

Pfizer:

Pfizer was trading slightly higher for much of Wednesday morning, and then shot up nearly half of a percent in the afternoon. The company announced top-line results from a Phase 3 study evaluating the safety and immunogenicity of PREVNAR 20 in adults 65 years of age or older when administered at the same time as the seasonal influenza vaccine.

The stock was trading about 1% higher at $43.51 per share at the time of publication.