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Novavax shares dip Tuesday as market sees mixed results

Published Dec 06, 2023 22:08
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NEW YORK - In a day of mixed fortunes for the stock market, Novavax (NASDAQ:NVAX) Inc. experienced a downturn, with its shares falling 2.78% to close at $5.59 on Tuesday. The decline halted the biotechnology company's two-day rise, leaving the stock significantly below its annual high of $18.55 reached on December 13th.

The broader market saw varied performance, with the NASDAQ Composite Index inching up by 0.31% to settle at 14,229.91, while the Dow Jones Industrial Average saw a modest retreat, dropping 0.22% to close at 36,124.56.

Novavax's movement contrasted with some of its pharmaceutical peers; Johnson & Johnson saw a slight decrease of 0.21%, Pfizer (NYSE:PFE)'s shares went down by 0.65%, and Merck was on the positive side with a gain of 1.11%.

Trading volume for Novavax was notably high, with 8.1 million shares changing hands, surpassing its recent average trading volume of 7.1 million shares.

InvestingPro Insights

Novavax Inc. (NVAX) continues to navigate through a challenging period, and recent data from InvestingPro sheds light on the company's financial health and market performance. With a market capitalization of $664.04 million, Novavax is trading at a low revenue valuation multiple, which might appeal to value investors seeking opportunities. However, the company's gross profit margin stands at a concerning -14.16% for the last twelve months as of Q3 2023, indicating struggles in maintaining profitability.

InvestingPro Tips suggest that Novavax holds more cash than debt on its balance sheet, which could provide some financial flexibility. Yet, analysts are not optimistic about the company's profitability in the near term and anticipate a sales decline in the current year. These factors contribute to the stock's volatility, with the price having fallen significantly over the last three months, and currently trading near its 52-week low.

For investors interested in a deeper analysis, there are over 14 additional InvestingPro Tips available, which can be accessed through a subscription. With the special Cyber Monday sale, subscribers can enjoy up to a 60% discount. Additionally, using the coupon code sfy23 will grant an extra 10% off a 2-year InvestingPro+ subscription, offering valuable insights for those looking to make informed investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Novavax shares dip Tuesday as market sees mixed results
 

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