Novavax Inc. (NASDAQ:NVAX) shares are pulling back Tuesday after a more than 20% surge Monday. Vaccine stocks rallied after a suspected pneumonic plague case in Russia.
Novavax (NVAX) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.
A suspected plague death at a Siberian research institute has investors reaching for the pandemic playbook again. One of biotech's most heavily shorted stocks is posting the biggest gain.
Sanofi is carrying the Nuvaxovid COVID-19 shot into the fall vaccination season, and buyers are rewarding shares of licensor Novavax (NASDAQ:NVAX) far more heavily than the rest of biotech. Novavax stock has rose 17% during afternoon trading, reaching $12.
Novavax (NVAX) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Cancer vaccine momentum is doing the work for Moderna (NASDAQ:MRNA | MRNA Price Prediction) once again on Thursday, extending one of the sharpest one-month runs in large-cap biotech this year without a fresh disclosure attached to it.