share price of Novavax (NASDAQ:NVAX) It has seen a solid 18% growth in just five trading sessions, while it is a whopping 48% in one month (twenty one trading days). The recent increase can be attributed to Novavax receiving emergency use authorization for its COVID-19 vaccine shot in the Philippines. Furthermore, the EU drug regulator is expected to come out with its decision on the Novavax Covid-19 vaccine soon.
Note that Europe is largely seeing another surge in new COVID-19 cases, accounting for two-thirds of global new cases. That means an increase in restrictions for many countries Austria imposed a lockdown earlier this week. Even in the US, cases of COVID-19 have been rising over the past few weeks, after seeing a steady decline between mid-September and late October. Overall, the vaccination rate for Europe is currently around 57% in the US and 59% in the US, and given the rise in cases, investors have turned their attention again to vaccine stocks. For example, Moderna’s stock has also gained 18 per cent in a week.
But now that NVAX stock is up a whopping 48% in a month, will it continue its upward move, or is a decline imminent? According to historical performance, there is NVAX stock more likely to rise in the next month. Twenty-one of 172 instances over the past ten years saw NVAX stock rise by 48% or more in a twenty-one period, 105 of them resulting in NVAX stock rising over a subsequent one-month period (twenty-one trading days). This historical pattern represents 105 out of 172, or approximately NVAX stock likely to rise 61% in the coming month, View our analysis Novavax Stock Growth Potential for more information.
While the stock of NVAX could see higher levels going forward, it is helpful to see how its counterparts stack up. check out Novavax stock comparison with peers Click here to see how NVAX stock compares against peers on important metrics. You can find more useful comparisons like this here peer comparison,
Calculation of ‘Probability of Event’ and ‘Probability of Growth’ using data of last four years
- After rising 18% or more over a five-day period, the stock rose on 45% of the occasions over the next five days.
- After rising 19% or more over a ten-day period, the stock rose on a 48% chance over the next ten days
- After rising 48% or more over a twenty-one day period, the stock rose on 61% of the occasions over the next twenty-one days.
Novavax Stock Return (Recent) Comparison with Peers
- Five-day return: mRNA highest 18.0%; VRTX lowest -0.8%
- Ten-Day Returns: NVAX Highs at 18.6%; AMGN lowest at -3.4%
- Twenty One Day Returns: NVAX Highest 48.3%; mRNA lowest -20.9%
While NVAX stock could see higher levels, 2020 has created several pricing discontinuities that could provide lucrative trading opportunities. For example, you’d be surprised how intuitive it is to approach stock valuations. United Therapeutics vs Quest Diagnostics,
What if you’re looking for a more balanced portfolio instead? here is one high quality portfolio It has consistently outperformed the market since 2016.
invest with traffic Market Beating Portfolio
see all traffic price estimate