Why Novavax, Dynavax, VBI Vaccines, and Co-Diagnostics Stocks Are Jumping Today

The major market indexes were slipping Thursday morning as COVID-19 cases continue to mount in the U.S. Several stocks of companies working on tests and vaccines for the novel coronavirus bucked the trend. As of 11:50 a.m. EDT, shares of Novavax (NASDAQ: NVAX) were up 7.4%. VBI Vaccines (NASDAQ: VBIV) and Dynavax Technologies (NASDAQ: DVAX) shares rose 6.3% and 5.1%, respectively. Co-Diagnostics (NASDAQ: CODX) stock lagged behind but was still up 2.7%.

It's not surprising that coronavirus-focused stocks are moving higher than the market as a whole today. Investors are worried that the increased numbers of COVID-19 cases in many states could prolong the economic impact of the pandemic. But these fears make Novavax, VBI Vaccines, Dynavax, and Co-Diagnostics more attractive picks because of their COVID-19 programs.

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Source Fool.com