Is Further Upside Left in the Stock?
Novavax NVAX shares soared 11.4% in the last trading session to close at $6.24. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 28.8% loss over the past four weeks.
The rise in Novavax’s shares can be attributed to the stock price recovery after it fell for 8 consecutive sessions. Despite the FDA’s delay in approving the company’s protein-based COVID-19 vaccine, the upside in NVAX’s stock suggests that investors perceive a favorable decision from the agency.
This vaccine maker is expected to post quarterly loss of $0.43 per share in its upcoming report, which represents a year-over-year change of +59.1%. Revenues are expected to be $72.27…
