Novavax, Inc. (NVAX)

Novavax's stock price has fluctuated, with a decline of 23.52% over the preceding 30 days and 19.53% over the past 12 months as of November 21, 2025, but it climbed by 3.18% in the month leading up to January 5, 2026. Key events include a Q3 2025 earnings report with an adjusted EPS of negative $1.25, site consolidation efforts in Maryland expected to result in $60 million in cash payments and $230 million in future cost savings, and a delay in its profitability target to 2028 due to weak demand for standalone COVID-19 vaccines. BofA raised its price target on Novavax to $7 from $6, maintaining an Underperform rating, following a non-exclusive license agreement. The stock's 52-week range has been between $5.01 and $10.64.

The demand for Novavax's products, particularly its COVID-19 vaccine, is showing a shift towards a seasonal pattern, resembling the flu vaccine market with the expectation of annual vaccinations. The company has noted weak demand for standalone COVID-19 vaccines, which has impacted its financial outlook. The development of a COVID-19/influenza combo shot in partnership with Sanofi aims to capitalize on this seasonal demand for respiratory vaccines.

Novavax, Inc. is a biotechnology company focused on developing and commercializing innovative vaccines for infectious diseases, utilizing recombinant protein-based nanoparticles and its Matrix-M adjuvant. Its major products include NVX-CoV2373 (COVID-19 Vaccine) marketed as Nuvaxovid and Covovax, NanoFlu for seasonal influenza, ResVax for respiratory syncytial virus, and Matrix-M Adjuvant, which is also being licensed for other vaccines. The company is also developing vaccines for avian flu, shingles, Clostridioides difficile, and malaria.

Novavax, Inc. is headquartered in Gaithersburg, Maryland, United States, and serves a worldwide market. It has a wholly-owned Swedish subsidiary, Novavax AB, which develops its proprietary immune-stimulating saponin-based adjuvants. The company generates sales across North America, Europe, and the Rest of the World.

Novavax's brand reputation is shaped by its recombinant protein-based COVID-19 vaccine and Matrix-M adjuvant, but it has faced challenges due to its late entry into the coronavirus vaccine market. The company's stock has underperformed both the US Biotechs industry and the broader US Market over the past year. Weak demand for standalone COVID-19 vaccines has led to a delay in the company's profitability target to 2028, which could impact investor confidence and public perception. The company's strategic shift towards a partnership-focused research and development model and its innovative technology platform are seen as potential drivers for future growth.

Novavax, Inc. has a significant number of institutional owners and shareholders, with 391 to 396 institutional owners holding approximately 116 to 116.4 million shares. Mutual funds and ETFs hold about 24.31% of shares outstanding, and other institutional investors hold around 50.90%. Major institutional owners include Vanguard Group Inc., Shah Capital Management, Inc., BlackRock, Inc., State Street Corp, Sanofi, D. E. Shaw & Co., L.P., Coatue Management, L.L.C., Geode Capital Management, LLC, SHAH CAPITAL OPPORTUNITY FUND LP, and SK Chemicals Co.,Ltd.