Novavax Stock Brushes Off Vaccine Approval News

The company recently announced upbeat third-quarter financial results

Jake Scott

Deputy Editor

Nov 18, 2022 at 10:12 AM

NVAX

Novavax Inc. (NASDAQ:NVAX) just received expanded authorization in Canada for its Covid-19 booster. Regulators in the country have approved the shot for adults in the country that were previously immunized with the company's protein-based vaccine.

NVAX is 0.6% lower despite the news, and was last seen trading at $20.67. The drugmaker recently reported upbeat third-quarter financial results, which helped its shares briefly pop back above the $24 level. Year-over-year, Novavax stock is off by 88.7%.

Options traders remain firmly settled in the bearish camp. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), NVAX sports a 50-day put/call volume ratio that sits higher than 96% of readings from the past year.

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