Is There Still Room for Growth for These 2 Coronavirus Stocks?

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Is it a good idea to keep betting on a winner? That question may have crossed our minds as we look at Novavax (NASDAQ: NVAX) and Vaxart (NASDAQ: VXRT). Shares of these coronavirus vaccine developers soared more than 3,000% and 2,000%, respectively, this year. That makes them the top two performers in the U.S. stock market this year — all industries and market capitalizations included.

It’s tempting to buy or hold these shares because they have momentum. Their coronavirus vaccine programs are on investors’ radar screens. And these programs have made progress. This fall, Novavax’s vaccine candidate entered phase 3 trials, and Vaxart’s entered phase 1. But there’s also reason to be wary of stocks that have appreciated so much. Potential positive news may already be priced in at the current share price. So, should we be worried about investing in Novavax and Vaxart at this point? Or should we be more confident than ever? Let’s take a closer look.

Image source: Getty Images.

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