Novavax (NASDAQ:NVAX) Sees Strong Trading Volume – Time to Buy?

Novavax, Inc. (NASDAQ:NVAX) shares saw strong trading volume on Tuesday . 14,409,716 shares were traded during mid-day trading, an increase of 93% from the previous session’s volume of 7,457,813 shares.The stock last traded at $7.97 and had previously closed at $7.74.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. TD Cowen raised Novavax to a “hold” rating in a report on Thursday, February 27th. BTIG Research started coverage on Novavax in a research report on Friday, February 28th. They issued a “buy” rating and a $19.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of Novavax from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Novavax currently has an average rating of “Hold” and a consensus target price of $19.00.

Novavax Price Performance

The stock has a market capitalization of $1.26 billion, a P/E ratio of -3.42, a PEG ratio of 2.85 and a beta of 3.21. The company’s 50 day simple moving average is $6.68 and its two-hundred day simple moving average is $7.87.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $2.22. The business had revenue of $666.66 million for the quarter, compared to analyst estimates of $204.08 million. During the same period in the prior year, the business earned ($1.05) earnings per share. The company’s revenue for the quarter was up 610.3% on a year-over-year basis. On average, research analysts anticipate that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novavax

Large investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new position in Novavax in the 4th quarter valued at $27,000. Spire Wealth Management acquired a new position in shares of Novavax during the fourth quarter valued at $29,000. New Age Alpha Advisors LLC bought a new position in Novavax in the fourth quarter valued at about $35,000. KBC Group NV increased its position in Novavax by 97.0% in the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 3,917 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Novavax during the 1st quarter worth about $71,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.