Where & How to Buy Novavax (NVAX) Stock in 2024

Much like fellow pharmaceutical market participants Pfizer and Moderna, biotech firm Novavax rose to popularity in 2021 after developing one of the pioneering COVID-19 vaccinations.

However, again mirroring the trajectories of its competitors, the firm’s stock has plummeted in the aftermath of the pandemic. Indeed, Novavax has shed more than half of its value in the past year, now at an all-time low of $5 a share, and considerably lower than its pre-pandemic value.

But with a reasonable pipeline of new products and a freshly updated version of the Covid vaccine, the stock’s heavily discounted price could make it a buy. In this guide, we will address these factors in determining whether Novavax stock is a smart bet in 2024, in addition to examining where and how to buy Novavax stock.

What is Novavax (NVAX)?

Much like fellow industry giant Pfizer, Novavax has garnered an industry-leading reputation over the course of decades, but only achieved genuine, widespread acclaim in 2020 as a result of COVID-19.

Indeed, the biotechnology firm, founded in 1987, played a major role in the development of one of the life-saving COVID-19 vaccines, its share price skyrocketing as a result. Unlike Pfizer and Moderna’s messenger RiboNucleic Acid (MRNA) vaccines, the Novavax vaccine relies on a more traditional approach in which virus-like proteins are injected into the body.

But aside from its COVID-19 products, Novavax also plays a major role in the treatment of illnesses such as malaria and seasonal influenza.

Novavax (NVAX) Stock Price 2024

Novavax stock has shed 96% of its value since 2020, and more than half of this decline occurred in 2023.

The year’s most dramatic downturn came on February 28 when the firm published its Q4 2022 earnings. Despite sales growing by 61%, Novavax issued a candid statement to shareholders, warning of “substantial doubt” around the firm’s ability to continue operations beyond February 2024.

In response, Novavax stock plummeted by more than a quarter overnight, despite having gained nearly 7% prior to the announcement.

The stock saw a healthy uptick following a July 7 announcement that the European Union had granted full marketing authorization for the firm’s COVID-19 vaccine. Novavax’s share price subsequently rallied by nearly 30% in the three days following.

But overall, Novavax stock has experienced a steady decline in 2023, its performance summarized by a more than 50% loss compared to the industry’s 10% gain.

Is Novavax (NVAX) a Good Investment in 2024?

Prospective investors may be drawn to Novavax in 2024 due to its recent acclaim and $5 price point, but context is critical here.

Firstly, while rival Pfizer has some 19 new medications on the horizon, Novavax’s pipeline is comparatively unimpressive. Beyond its coronavirus treatments, its two most advanced products are currently at phase 2 study stage, meaning that neither will earn approval until at least 2025.

The firm’s stock saw a slight uptick in December upon the launch of its updated Covid vaccine in Canada and a handful of European countries. With Covid cases on the rise and around 30% of the world’s population still yet to receive a vaccination, there is clearly still a need for these treatments.

But with Pfizer having recently projected Covid vaccine sales to continue declining in 2024, Novavax stock immediately took a hit in response, with the vaccine being its only product on the market at the current time. Moreover, Novavax’s shot is only approved for people over the age of 12, whereas both Pfizer and Moderna’s vaccines can be used on patients as young as six months old.

It should be acknowledged that Novavax hopes to reduce its costs by up to 50% in 2024, potentially spelling a rebound from the post-pandemic slump. But investors should remain wary given the firm’s frank warning to shareholders earlier this year that continuing operations into 2024 could be a challenge.

While Novavax stock may look like a bargain on the surface, the firm’s continual decline in parallel to a booming market is troubling, rendering the future of the biotech firm highly uncertain.

Where to Buy Novavax (NVAX) Stock in 2024

As one of the most popular pharmaceutical stocks, Novavax is available to buy from several online exchanges. It is a good idea to research different platforms to find one that best suits your investing needs.

In the following section, we will take a look at 4 online brokers that support NVAX trading.

1. Robinhood – Commission-free stock investments

Robinhood has established itself as a commission-free trading platform celebrated for its intuitive interface. Since its inception, it has garnered immense popularity, drawing in millions of users.

Distinguishing itself with a no-commission model, Robinhood facilitates fee-free trades on stocks, ETFs, and options. The platform encourages social trading, creating a community atmosphere reminiscent of social networks.

With a modest minimum deposit requirement, the inclusion of accessible fractional share trading, and the absence of account fees, Robinhood presents an economical starting point for investors, especially catering to those new to the investment landscape.

2. Charles Schwab – Educational tools and resources for stock trading

Charles Schwab stands as a renowned online brokerage platform, acknowledged for its broad spectrum of investment choices and comprehensive services. Esteemed for its reliability, it caters to a diverse community of investors.

Providing an interface designed for ease of use, Charles Schwab grants access to various financial markets and investment products. Although not a zero-fees platform, it offsets this with a rich array of research tools and educational resources.

The versatility of Charles Schwab’s platform, accommodating different account types, renders it suitable for both novice and seasoned investors. Prioritizing customer service and fostering innovation, Charles Schwab emerges as a prominent option for those in search of a holistic online brokerage experience. Always refer to their official website for the latest information.

3. Webull – A modern and affordable brokerage platform

intuitive design and advanced features since its launch in 2018. Delivering a user-friendly interface equipped with real-time market data and analysis tools, Webull caters to both novice and experienced traders.

With a particular emphasis on equities and options, Webull distinguishes itself by offering commission-free trades on a diverse range of assets, encompassing stocks and ETFs. Noteworthy is the platform’s support for extended trading hours, providing flexibility for active traders.

Webull’s appeal is further enhanced by its accessible mobile app and desktop platform, coupled with the absence of minimum deposit requirements. This makes it an enticing choice for individuals seeking a contemporary and cost-effective trading experience.

Novavax (NVAX) Stock Data November 2024

Our Verdict on Novavax (NVAX) Stock in 2024

Despite emerging as one of the heroes during the COVID-19 pandemic, Novavax stock has since plummeted. Not only is the demand for the firm’s COVID-19 product suite waning, but its financial viability beyond 2024 has also been called into question, raising concerns for many investors.

Though the $5 price point may be tempting, the firm is being significantly outpaced by the broader market. While this could be remedied by a cost-cutting program in 2024, the outlook remains certain, and investor cautious is advised.

However, with a significant portion of the world’s population still unvaccinated, Novavax still bears some potential. For those willing to take a risk on the firm in the pursuit of high returns, TradingPlatforms recommends Robinhood as the best all-round online broker for the majority of investors.

Novavax (NVAX) Stock FAQs