Novavax, Inc. (NASDAQ:NVAX – Get Free Report) gapped down before the market opened on Monday after B. Riley lowered their price target on the stock from $29.00 to $25.00. The stock had previously closed at $11.78, but opened at $10.17. B. Riley currently has a buy rating on the stock. Novavax shares last traded at $11.12, with a volume of 2,465,452 shares changing hands.
A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of Novavax from a “neutral” rating to an “underweight” rating and set a $8.00 target price for the company. in a report on Tuesday, July 30th. Bank of America boosted their price objective on shares of Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Novavax in a research note on Monday, May 13th. Finally, TD Cowen upped their price target on shares of Novavax from $5.00 to $10.00 and gave the company a “hold” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.00.
Insider Transactions at Novavax
In other news, Director James F. Young sold 7,500 shares of Novavax stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $14.09, for a total transaction of $105,675.00. Following the sale, the director now owns 61,760 shares in the company, valued at $870,198.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Novavax news, Director James F. Young sold 7,500 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $14.09, for a total value 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 approximately $870,198.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Filip Dubovsky sold 47,312 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $13.90, for a total value of $657,636.80. Following the completion of the transaction, the insider now owns 38,953 shares in the company, valued at approximately $541,446.70. The disclosure for this sale can be found here. Insiders have sold a total of 62,312 shares of company stock valued at $866,212 in the last ninety days. 0.90% of the stock is currently owned by company insiders.
Institutional Trading of Novavax
Institutional investors have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Novavax in the first quarter worth $1,499,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 buying an additional 11,319 shares during the last quarter. Shah Capital Management boosted its stake in shares of 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 buying an additional 1,450,000 shares during the last quarter. Edgestream Partners L.P. raised its holdings 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 during the period. Finally, ProShare Advisors LLC raised its holdings in Novavax by 29.9% during the first quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 8,570 shares during the period. 53.04% of the stock is currently owned by institutional investors.
Novavax Price Performance
The stock has a market cap of $1.60 billion, a PE ratio of -3.58 and a beta of 1.99. The stock has a 50-day moving average price of $14.65 and a two-hundred day moving average price of $8.80.
Novavax (NASDAQ:NVAX – Get Free Report) last issued its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The company had revenue of $93.90 million for the quarter, compared to the consensus estimate of $71.32 million. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned ($3.41) earnings per share. Equities research analysts expect that Novavax, Inc. will post 0.46 earnings per share for the current year.
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.
