Novavax (NASDAQ:NVAX) Trading 5.4% Higher – What’s Next?

Novavax, Inc. (NASDAQ:NVAX) traded up 5.4% during trading on Tuesday . The stock traded as high as $9.43 and last traded at $9.4860. 622,763 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 4,929,272 shares. The stock had previously closed at $9.00.

Analyst Ratings Changes

A number of research firms have weighed in on NVAX. HC Wainwright lifted their target price on Novavax from $11.00 to $16.00 and gave the company a “buy” rating in a report on Friday, February 27th. Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a report on Sunday, May 31st. Weiss Ratings lowered shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novavax in a research note on Thursday, March 12th. Finally, TD Cowen upped their target price on shares of Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Novavax currently has an average rating of “Hold” and a consensus price target of $13.00.

Novavax Stock Performance

The business has a 50 day simple moving average of $9.10 and a two-hundred day simple moving average of $8.66. The firm has a market capitalization of $1.51 billion, a P/E ratio of -15.92 and a beta of 2.45.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.19. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.The firm had revenue of $118.90 million during the quarter, compared to the consensus estimate of $79.81 million. During the same quarter last year, the company posted $2.93 EPS. The company’s revenue for the quarter was down 79.0% on a year-over-year basis. On average, equities analysts anticipate that Novavax, Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in Novavax during the third quarter valued at approximately $33,000. Duncker Streett & Co. Inc. increased its holdings in shares of Novavax by 917.3% in the 1st quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 3,825 shares during the last quarter. KBC Group NV increased its holdings in shares of Novavax by 34.9% in the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 1,229 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Novavax during the 4th quarter valued at $33,000. Finally, Danske Bank A S purchased a new stake in shares of Novavax during the 3rd quarter valued at $64,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Company Profile

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.