(VIANEWS) – Shares of Novavax (NASDAQ: NVAX) slid 9.12% to $23.51 at 10:14 EST on Thursday, after five successive sessions in a row of losses. NASDAQ is dropping 1.79% to $11,220.19, after two consecutive sessions in a row of losses. This seems, at the moment, an all-around bearish trend trading session today.
Novavax’s last close was $25.87, 90.08% under its 52-week high of $260.69.
Why is Novavax Stock Going Down?
The stock of Novavax has gone down by 20% in December. The company is a vaccine specialist and is a key player in the Covid-19 vaccine space. However, investors are cautious about the company’s revenue prospects. The stock is down 65% from its all-time high.
Shareholders reacted to Novavax’s poor numbers by pulling back. As a result, the stock fell by almost a third after hours. The company’s prospects were much brighter six months ago, but it faced significant hurdles. While it has been a tough year for Novavax, it’s not impossible to pull off a surprise recovery.
Vaccines are still the primary defense against Covid-19 infection worldwide, but the new news of a potentially effective treatment might make investors apprehensive about the demand for vaccines. Once people can get a therapeutic treatment instead of a vaccine, they might not need to get booster doses anymore. If this is the case, Novavax could find itself in an untenable position.
While Novavax stock rose recently on anticipation of a FDA approval, it has fallen more than 40% since Aug. 9. The selloff can be attributed to a number of factors, including the postponement of a deal with the European Union and the fact that Covid-19 has been linked to severe allergic reactions. The stock is now down 60% this year and trades at $57 per share.
Novavax, Inc. is a biotechnology firm that focuses on vaccine development and commercialization. This company can be found at www.novavax.com. Among the vaccine candidates are NVX–CoV2373, a candidate coronavirus vaccine, which is currently in 2 Phase III trials and 1 Phase IIb trial. NanoFlu is a candidate nanoparticle seasonal quadrivalent flu vaccine that is in Phase 3. ResVax is a candidate respiratory syncytial viral (RSV), fusion (F1) protein nanoparticle vaccine. The company is currently developing RSV F vaccine, which is being tested in Phase II clinical trials for adults aged 60 years or older. It also has a Phase I clinical trial in pediatrics. Takeda Pharmaceutical Company Limited has signed a cooperation agreement for the production, commercialization, and development of NVXCoV2373 (a COVID-19 candidate vaccine). Novavax, Inc., was founded in 1987. It is located in Gaithersburg, Maryland.
Today’s last reported volume for Novavax is 2209966 which is 63.56% below its average volume of 6065114.
The company’s growth estimates for the current quarter and the next is 215.8% and 247.6%, respectively.
Year-on-year quarterly revenue growth grew by 57.4%, now sitting on 1.4B for the twelve trailing months.
Novavax’s last week, last month’s, and last quarter’s current intraday variation average was a positive 0.86%, a negative 1.42%, and a positive 5.73%, respectively.
Novavax’s highest amplitude of average volatility was 5.67% (last week), 4.41% (last month), and 5.73% (last quarter), respectively.
Stock Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions,
Novavax’s stock is considered to be overbought (>=80).
Novavax’s Stock Yearly Top and Bottom Value
Novavax’s stock is valued at $23.51 at 10:26 EST, way below its 52-week low of $28.25.
Novavax’s Moving Average
Novavax’s worth is way under its 50-day moving average of $45.89 and way below its 200-day moving average of $75.51.
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