Why Novavax's Stock Is Trading Higher Today

Novavax Inc NVAX is trading significantly higher Monday amid renewed COVID-19 concerns. 

The recent spread of the COVID-19 Delta variant is a major concern. Delta first appeared in India at the end of 2020. The highly contagious COVID-19 variant surfaced in the United States in March and is now the dominant strain.

Novavax is a biotechnology company that develops vaccines. The company works in the clinical stage of development with a focus on delivering novel products that prevent a broad range of diseases.

Novavax's COVID-19 vaccine, NVX-CoV2373, is currently in two pivotal Phase 3 studies to evaluate vaccine efficacy, safety and immunogenicity.

Price Action: Novavax has traded as high as $331.68 and as low as $76.59 over a 52-week period.

At last check Monday, the stock was up 12.50% at $210.