Novavax (NASDAQ:NVAX) Stock Price Up 5.4% – Here’s What Happened

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. B. Riley Financial reaffirmed a “buy” rating on shares of Novavax in a research report on Thursday, April 9th. BTIG Research reissued a “buy” rating and set a $19.00 price target on shares of Novavax in a research report on Thursday, June 11th. HC Wainwright increased their price objective on Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Wall Street Zen upgraded Novavax from a “sell” rating to a “hold” rating in a research report on Sunday, May 31st. Finally, TD Cowen lifted their target price on Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Novavax presently has an average rating of “Hold” and a consensus price target of $13.00.

Novavax Trading Down 1.2%

The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -15.34 and a beta of 2.45. The company has a fifty day moving average price of $9.13 and a 200-day moving average price of $8.69.

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

Institutional Investors Weigh In On Novavax

Several institutional investors and hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC bought a new stake in Novavax in the fourth quarter worth $33,000. Quarry LP bought a new position in Novavax during the third quarter valued at about $33,000. Duncker Streett & Co. Inc. lifted its position in shares of Novavax by 917.3% in the first 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 lifted its position in shares of Novavax by 34.9% in the first 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. Finally, State of Wyoming bought a new stake in shares of Novavax during the 2nd quarter worth about $52,000. Institutional investors and hedge funds 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.