Novavax (NASDAQ:NVAX) Stock Price Up 5.5%

Novavax, Inc. (NASDAQ:NVAX)’s share price rose 5.5% during trading on Monday . The stock traded as high as $13.38 and last traded at $13.35. Approximately 1,058,763 shares traded hands during trading, a decline of 91% from the average daily volume of 12,160,443 shares. The stock had previously closed at $12.66.

Wall Street Analyst Weigh In

NVAX has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and set a $19.00 target price on shares of Novavax in a research note on Monday, May 13th. Bank of America increased their target price on Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. raised Novavax from an “underweight” rating to a “neutral” rating in a research report on Friday, May 10th. TD Cowen upped their price target on Novavax from $5.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Finally, B. Riley upped their price target on Novavax from $11.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.00.

Novavax Price Performance

The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -4.30 and a beta of 1.99. The business has a fifty day moving average price of $11.98 and a 200 day moving average price of $7.22.

Novavax (NASDAQ:NVAX) last released its earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The company had revenue of $93.90 million during the quarter, compared to analysts’ expectations of $71.32 million. During the same quarter in the prior year, the firm posted ($3.41) earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts anticipate that Novavax, Inc. will post 0.49 earnings per share for the current year.

Insider Transactions at Novavax

In other news, insider Filip Dubovsky sold 47,312 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total transaction of $657,636.80. Following the completion of the sale, the insider now directly owns 38,953 shares of the company’s stock, valued at $541,446.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director James F. Young sold 7,500 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $14.09, for a total transaction of $105,675.00. Following the completion of the sale, the director now directly owns 61,760 shares of the company’s stock, valued at $870,198.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Filip Dubovsky sold 47,312 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total value of $657,636.80. Following the completion of the sale, the insider now directly owns 38,953 shares of the company’s stock, valued at $541,446.70. The disclosure for this sale can be found here. Insiders sold a total of 62,312 shares of company stock valued at $866,212 in the last three months. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Novavax

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Novavax by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock worth $83,633,000 after acquiring an additional 978,873 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Novavax by 467.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company’s stock worth $66,000 after acquiring an additional 11,319 shares in the last quarter. Shah Capital Management lifted its stake in Novavax by 22.9% in the 4th quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock worth $37,348,000 after acquiring an additional 1,450,000 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Novavax during the 4th quarter worth about $824,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Novavax by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 703,350 shares of the biopharmaceutical company’s stock worth $5,092,000 after purchasing an additional 51,274 shares in the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

About Novavax

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.