Novavax (NASDAQ:NVAX) stock is falling hard on Wednesday as investors react to the vaccine company’s earnings report for the fourth quarter of 2024.
Let’s dig into everything that has investors in NVAX stock disappointed today below!
NVAX Earnings Hit Stock
- Novavax reported earnings per share of -$1.44 during the quarter.
- That’s worse than the -35 cents per share that Wall Street was expecting.
- However, it is better than the -$2.28 from the same time last year.
- Revenue of $291.34 million also failed to meet the analyst estimate of $321.97 million.
- It also represents an 18.5% decrease from the same period of the year prior.
- Novavax also includes a Q1 revenue guidance of $100 million in its earnings report.
- That’s well below the $292.33 million that Wall Street is looking for next quarter.
- Its revenue outlook for the full year of 2024 ranges from $800 million to $1 billion.
- The midpoint of that guidance is below analysts’ estimate of $969.56 million for the year.
Today’s lackluster earnings report from Novavx has the company’s shares seeing heavy trading. As of this writing, more than 15.8 million shares of the stock have changed hands. That’s a massive surge in trading compared to its daily average of about 8.8 million units.
NVAX stock is down 27.7% as of Wednesday morning.
Investors looking for all of the latest stock market stories are going to want to stick around!
We have insight into all of the top stock market happenings worth reading about on Wednesday! Among that is Bumble (NASDAQ:BMBL) layoffs, why Coupang (NYSE:CPNG) stock is up, and Fisker (NYSE:FSR) signing new dealer agreements. All of this news is ready to go at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
