Novavax (NASDAQ:NVAX) Trading 9.2% Higher

Novavax, Inc. (NASDAQ:NVAX)’s stock price traded up 9.2% on Monday . The stock traded as high as $12.84 and last traded at $12.70. 3,396,045 shares traded hands during trading, a decline of 68% from the average session volume of 10,649,929 shares. The stock had previously closed at $11.63.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America upped their price target on shares of Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, June 14th. B. Riley restated 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.80.

Novavax Stock Performance

The company has a market capitalization of $1.73 billion, a P/E ratio of -3.88 and a beta of 2.04. The company’s fifty day simple moving average is $12.95 and its 200-day simple moving average is $10.31.

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

Insider Activity at Novavax

In other Novavax news, Director James F. Young sold 7,500 shares of the stock in a transaction dated Friday, June 21st. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank boosted its holdings in Novavax by 26.9% in the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 1,036 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in Novavax by 3.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock worth $568,000 after purchasing an additional 1,300 shares in the last quarter. Edgestream Partners L.P. boosted 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 increased its stake in Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Novavax by 12.5% in the second quarter. Creative Planning now owns 24,143 shares of the biopharmaceutical company’s stock worth $306,000 after buying an additional 2,692 shares during the last quarter. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

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.