Why Novavax Stock Wilted on Wednesday
Investors don't seem to be very confident about Novavax's (NASDAQ: NVAX) performance in the closing months of 2022. After market hours on Tuesday, the vaccine specialist set the date for its fourth-quarter and full-year 2022 earnings release, and the news wasn't greeted warmly. On Wednesday, Novavax's share price took a more than 3% hit, while the S&P 500 index slipped by only 0.2%.
Novavax will publish those quarterly and annual results next Tuesday, Feb. 28, after market close. This will be accompanied by a conference call to discuss the vaccine maker's performance.
It's not that investors are necessarily anticipating a disaster or overly grim and surprising news. It could be more a matter of landing some distance from profitability. On average, the clutch of analysts tracking Novavax stock are estimating that the company will post a net loss of $0.92 per share, according to data compiled by Yahoo! Finance.
Source Fool.com
