Novavax (NASDAQ:NVAX) Trading 5.5% Higher – Here’s Why

Novavax, Inc. (NASDAQ:NVAX) traded up 5.5% on Tuesday . The company traded as high as $8.24 and last traded at $8.1750. 2,113,398 shares were traded during trading, a decline of 37% from the average session volume of 3,354,743 shares. The stock had previously closed at $7.75.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVAX. Cantor Fitzgerald began coverage on Novavax in a report on Friday, October 24th. They set an “overweight” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Novavax from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday, November 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Novavax in a research note on Monday, December 29th. B. Riley reiterated a “buy” rating and issued a $16.00 price target (down previously from $18.00) on shares of Novavax in a research note on Monday, November 10th. Finally, TD Cowen lowered their price target on shares of Novavax from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.25.

Novavax Stock Down 5.0%

The stock’s fifty day simple moving average is $6.96 and its 200-day simple moving average is $7.63. The stock has a market cap of $1.26 billion, a P/E ratio of 4.35 and a beta of 2.37. The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.24 and a current ratio of 2.27.

Novavax (NASDAQ:NVAX) last announced its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.25) EPS for the quarter, missing the consensus estimate of ($1.08) by ($0.17). The business had revenue of $70.45 million for the quarter, compared to the consensus estimate of $55.63 million. Novavax had a negative return on equity of 217.02% and a net margin of 32.10%.The firm’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.76) earnings per share. As a group, research analysts forecast that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NVAX. Quarry LP bought a new stake in Novavax during the third quarter worth about $33,000. State of Wyoming acquired a new position in shares of Novavax in the 2nd quarter valued at approximately $52,000. Signaturefd LLC raised its position in shares of Novavax by 47.2% in the 2nd quarter. Signaturefd LLC now owns 9,739 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 3,122 shares in the last quarter. Danske Bank A S bought a new stake in shares of Novavax during the 3rd quarter worth approximately $64,000. Finally, Vise Technologies Inc. acquired a new stake in shares of Novavax during the 2nd quarter worth approximately $70,000. Institutional investors own 53.04% of the company’s stock.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.