Novavax, Inc. (NASDAQ: NVAX) is having a strong day in the market today. However, if you go digging for press releases or SEC filings, you’re not going to find any.
Nonetheless, there is a very good reason for the gains. Today, we’ll talk about:
- Why NVAX stock is making a run for the top;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Why NVAX Stock Is Running Up
As mentioned above, Novavax is making a run for the top in the market today, but the company hasn’t released any news that would suggest that these gains were coming. So, what’s the deal?
While without any news, any hint at why the stock would be climbing is speculation. However, with earnings around the corner, it makes sense.
At the moment, it is expected that NVAX will issue its financial results after the market closes today. This is overwhelmingly exciting news for investors.
After all, not only will the company release its financial results, and likely provide a corporate update, the report is probably going to be a very strong one.
Over the past consecutive sessions, financial data has come in line with analyst expectations. With a consistent history here, we can expect to see more of the same.
Moreover, NVAX investors are used to seeing gains following earnings. In fact, over the past 12 consecutive quarters, the company has experienced gains following earnings, with the average gain in the session following earnings coming in around 19%.
What We’re Seeing From The Stock
While there has been no news from Novavax yet today, investors are excited for the earnings report that is to come. After all, with consecutive positive reports over the past several sessions, followed by strong gains after the report. So, it is expected that we will see more of the same in the session ahead.
As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:10), NVAX is trading at $0.55 per share after a gain of $0.04 per share or 7.94% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a clsoe eye on NVAX. In particular, we’re interested in following the story surrounding the company’s coming financial results and excited to see the market’s reaction to the report. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!