Why Novavax Stock Is Seeing Blue Skies

Novavax Inc NVAX shares are trading higher by 9.88% to $8.34 Thursday afternoon. The stock may be reacting to the company's presentations at the 2023 World Vaccine Congress this week.

At the WVC, Novavax presented data on its COVID-19 prototype vaccine as a booster and its CIC. Novavax also hosted an Insights and Tools to Counter Vaccine Hesitancy roundtable on April 4, and participated in a panel discussion on The Future of Safety for New Vaccines on April 5.

The stock is otherwise lower by 86% over the trailing year due to worse-than-expected sales results, a series of common stock offerings in December and amid broader market volatility.

According to data from Benzinga Pro, NVAX has a 52-week high of $76.77 and a 52-week low of $5.60.