Connect with us

Info Web News

Financial Markets A biotech investor apparently made $255 million in just 4 weeks on Novavax’s 120%rise (NVAX)


Business

Financial Markets A biotech investor apparently made $255 million in just 4 weeks on Novavax’s 120%rise (NVAX)

RA Capital Management, a small biotech investment firm, has made $255 million in paper profits in less than four weeks from a bet on Novavax, The Wall Street Journal reported Thursday. Shares of pharmaceutical company Novavax have surged nearly 2,300% this year. In February, the company said it was working on a vaccine for COVID-19. …

Financial Markets A biotech investor apparently made $255 million in just 4 weeks on Novavax’s 120%rise (NVAX)

Financial Markets


For one biotech firm, an investment in vaccine business Novavax is paying off.

RA Capital, a little biotech investment company based in Boston, made $255 million in paper profits in less than 4 weeks from a financial investment in Novavax, Gregory Zuckerman of The Wall Street Journal reported Thursday. The company purchased 4.4 million shares of convertible favored stock on June 12 for $200 million, about 7.5%of Novavax’s total shares, according to the report.

The firm made the financial investment after becoming persuaded that the coronavirus will remain a risk for many years, and that any vaccine may be required yearly, according to the report..

Since June 12, Novavax’s shares have actually increased 120%. This year, the business’s stock has rallied almost 2,300%amidst the coronavirus pandemic– Novavax announced in February it was working on a COVID-19 vaccine.

Find Out More: GOLDMAN SACHS: Wall Street is bracing for a traditionally wild stock market as the presidential election nears. Here’s a surprising yet basic technique for securing your portfolio– regardless of result.

It’s gradually gotten ever since as financiers want to profit from hopes that a vaccine will soon come. On Tuesday, Novavax rose as much as 41% when the company announced it will receive $1.6 billion from the federal government to establish and produce its coronavirus vaccine prospect. It pared some of those gains Thursday, falling as much as 5%.

Shares of completing pharmaceutical business such as Moderna, Regeneron, and Gilead have actually also escalated this year.

Financial Markets Screen Shot 2020 07 09 at 3.50.31 PM Markets Insider

Real Life. Real News. Real Voices

Help us tell more of the stories that matter

Become a founding member

Subscribe to the newsletter news

We hate SPAM and promise to keep your email address safe

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Popular Posts

To Top