Novavax Maintains Covid-19 Shot Rollout Optimism

NVAX is down more than 34% in 2023

Fernanda Horner

Digital Content Manager

Oct 17, 2023 at 10:55 AM

PFE
NVAX

Novavax Inc (NASDAQ:NVAX) expressed optimism about the availability of its updated Covid-19 vaccine, now being rolled out in the U.S. The biotech name is also working with the European Medicines Agency (EMA) after the regulator delayed approval of the shot. This comes after Pfizer (PFE) slashed the outlook for its own Covid-19 vaccine and treatments due to lower-than-expected sales.

At last glance, NVAX was up 0.5% at $6.66. A ceiling at the $8 region has kept a tight lid on the security over the past month, while the 60-day moving average has been acting as pressure as well. Year-to-date, the stock is down 34.9%.

Novavax stock's 10-day put/call volume ratio of 2.97 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits in the 76th percentile of readings from the past year. This means options traders have been more bullish than usual.

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