Why Novavax Stock Traded Higher Today

Novavax, Inc. NVAX shares trader higher Tuesday amid rising COVID cases in the US, which has lifted vaccine stocks in recent weeks.

What To Know: Novavax shares have risen over 20% since the beginning of this month, tied to rising hospitalization and death levels witnessed in August due to a new COVID-19 wave.

The "dominant" strain in the U.S. is the EG.5 variant, comprising the largest number of new cases. A new highly mutated strain known as BA.2.86 is also being monitored by authorities although the prevalence has been insignificant.

COVID tests seem to be effective against these variants, although that remains to be seen if a strain becomes more widespread. Also, while fall 2023 boosters appear to work for new variants, it is unknown if they will be a match for BA.2.86's mutations.

Related Link: What's Going On With Zoom Stock?

NVAX Price Action: Shares of NVAX closed 10.23% higher at $9.25, according to Benzinga Pro.

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