Why Novavax Stock Zoomed 13% Higher on Monday
News of a fresh COVID-19 surge sent numerous stockholders into the shares of vaccine maker (NASDAQ: NVAX) on the first trading day of the week. As a result, Novavax's shares popped more than 13% higher in anticipation that the company's wares would be needed in a new fight against the disease. By contrast, the S 500 index only crept up 0.2% on the day.
According to data from the U.S. government's Centers for Disease Control and Prevention (CDC), on the basis of several tracking metrics, COVID is on the rise nationally. In its most recently tracked weekly period (July 16 to 22), the CDC's data indicate a 12% rise in hospital admissions for the disease. Deaths were also up, although not by much, rising by a shade under 1%.
Novavax developed and sells Nuvaxovid, one of three vaccines currently greenlighted by the Food and Drug Administration (FDA) to help prevent COVID. It is currently under the regulator's Emergency Use Authorization (EUA) designation.
Source Fool.com
Novavax Inc. Stock
Our community is currently high on Novavax Inc. with 4 Buy predictions and 1 Sell predictions.
With a target price of 22 € there is a hugely positive potential of 92.64% for Novavax Inc. compared to the current price of 11.42 €.
