Today’s incredible price action with vaccine maker Novavax (NASDAQ:NVAX) has started to gain significant attention. At one point today, NVAX stock surged more than 23% to intraday highs. This move came on anticipation around the company’s presentation of new data from its vaccine portfolio at the World Vaccine Congress Europe 2022 event. At the time of this writing, Novavax has given up about half of these gains, still up around 8%.
InvestorPlace recently covered why investors should keep today marked on their calendars when it comes to NVAX stock. However, it appears that this week’s event, which goes until Friday, is making a much more bullish impression on investors than previously predicted.
As Novavax kicks off a few days of conferences on its vaccine tech, let’s dive into why investors are growing so bullish on the vaccine maker.
Why Is NVAX Stock Soaring Today?
The fact that Novavax will be sharing aspects of its vaccine technology with the scientific community is a big deal. The hope is that this conference, which has just kicked off, will provide the company with further expansion opportunities, particularly in Europe. Notably, Novavax is going to be presenting its safety and efficacy data for its Phase 1/2 trial, which could lead to more orders over time.
The real upside with Novavax appears to be the company’s vaccines which are targeted to specific variants. Should an outbreak occur, or countries look to bolster their defenses just in case, Novavax is a viable alternative to the other major players in the space.
There will also be data supporting Novavax’s goal of being another option for boosters for those aged 12 to 17 as well as the 18+ population. With more data on adult efficacy expected, it’s possible that buyers will be more inclined to take Novavax on as an additional option.
We’ll see how everything turns out. This morning’s enthusiasm has waned a bit, with investors seemingly wanting to take profits. That said, there’s enthusiasm around NVAX stock for a reason. Perhaps there are some catalysts that should still be priced in. Time will tell, but this is one name that looks volatile moving forward as we await more news coming out of this week’s conference.
On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.