- The stock price of Novavax (NVAX) fell by over 30% during intraday trading today. This is why.
The stock price of Novavax (NVAX) fell by over 30% during intraday trading today. Investors are responding to the company’s second-quarter results.
Novavax reported a Q2 EPS of ($6.53), which was $12.03 lower than analyst estimates of $5.50. And the revenue for the quarter was $186 billion compared to the consensus estimate of $1.02 billion.
In terms of guidance, Novavax expects FY2022 revenue of between $2 billion and $2.3 billion compared to the consensus of $4.27 billion.
The guidance was lower due to no new Covid-19 vaccine sales being expected for 2022 in the U.S. or through the Covax international alliance.
