Why Novavax Shares Are Rising

Shares of vaccine companies, including Novavax, Inc. NVAX, are trading higher amid COVID-19 concerns due to rising cases in China.

Rising COVID-19 cases in China's capital Beijing and Shanghai, where enforcement of a strict "zero-COVID" policy is ongoing, have drawn global attention. 

The world's second-largest economy has been struggling to completely stamp out the pandemic as traders and investors weigh increasing infections in the region.

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Novavax, a biotechnology company, focuses on the discovery, development and commercialization of vaccines to prevent serious infectious diseases and address health needs.

According to data from Benzinga Pro, Novavax has a 52-week high of $277.80 and a 52-week low of $46.03.