Novavax (NASDAQ:NVAX) Trading 6.7% Higher

Novavax, Inc. (NASDAQ:NVAX) traded up 6.7% during trading on Friday . The company traded as high as $13.03 and last traded at $12.96. 2,902,919 shares traded hands during trading, a decline of 72% from the average session volume of 10,324,533 shares. The stock had previously closed at $12.15.

Analysts Set New Price Targets

Several research firms recently issued reports on NVAX. B. Riley reiterated a “buy” rating and issued a $23.00 target price (down from $25.00) on shares of Novavax in a research note on Monday, August 12th. Bank of America increased their target price on shares of Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. lifted their price target on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Novavax currently has an average rating of “Hold” and an average price target of $15.80.

Novavax Stock Up 7.2 %

The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -4.05 and a beta of 2.04. The stock’s 50-day simple moving average is $12.77 and its two-hundred day simple moving average is $10.85.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The company had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $458.57 million. During the same quarter in the previous year, the company earned $0.58 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Novavax, Inc. will post -1.04 EPS for the current year.

Institutional Trading of Novavax

Several large investors have recently made changes to their positions in the company. Amalgamated Bank boosted its stake in Novavax by 26.9% during the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 1,036 shares during the last quarter. Ensign Peak Advisors Inc grew its stake in Novavax by 3.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock valued at $568,000 after acquiring an additional 1,300 shares in the last quarter. Edgestream Partners L.P. lifted its stake in Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 2,447 shares in the last quarter. Banque Cantonale Vaudoise lifted its stake in Novavax by 500.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of Novavax by 12.5% during the 2nd quarter. Creative Planning now owns 24,143 shares of the biopharmaceutical company’s stock worth $306,000 after purchasing an additional 2,692 shares during the last quarter. 53.04% of the stock is currently 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.