Why Novavax Stock Is Trading Higher Today

Novavax, Inc. NVAX shares are trading higher Monday amid a new COVID wave and rising hospitalizations.

What To Know: According to an article by CBS News, COVID-19 hospitalization and death levels have been rising for several weeks.

The EG.5 variant makes up the largest share of new cases, with the CDC estimating it comprised 20.6% of new infections, giving it the status of the "dominant" strain in the U.S.

A new highly mutated strain known as BA.2.86 is on authorities' radar, although it's prevalence is too small to appear on CDC estimates.

COVID tests appear to work for the new variants, but if one of the strains becomes more widespread, that could change.

Furthermore, fall 2023 boosters are expected to work for new variants, but it is uncertain if BA.2.86's mutations will result in the shots being "a fairly poor match".

Related Link: Why Super League Gaming Are Trading Lower By Around 46%? Here Are Other Stocks Moving In Monday's Mid-Day Session

NVAX Price Action: Shares of NVAX were up 15.8% at $8.27 at the time of publication, according to Benzinga Pro.

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