Novavax (NASDAQ:NVAX) Now Covered by Analysts at BTIG Research

Research analysts at BTIG Research assumed coverage on shares of Novavax (NASDAQ:NVAX - Get Free Report) in a note issued to investors on Friday, Marketbeat Ratings reports. The firm set a "buy" rating and a $19.00 price target on the biopharmaceutical company's stock. BTIG Research's price target indicates a potential upside of 147.40% from the company's current price.

Separately, HC Wainwright restated a "buy" rating and issued a $19.00 target price on shares of Novavax in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $18.00.

Novavax Trading Down 2.4 %

Shares of NVAX stock traded down $0.19 during trading hours on Friday, reaching $7.68. 3,966,912 shares of the company's stock were exchanged, compared to its average volume of 4,702,453. Novavax has a 1 year low of $3.81 and a 1 year high of $23.86. The stock has a market cap of $1.23 billion, a PE ratio of -3.40, a PEG ratio of 2.85 and a beta of 2.14. The stock's fifty day moving average price is $8.50 and its two-hundred day moving average price is $9.91.

Novavax (NASDAQ:NVAX - Get Free Report) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.24. The company had revenue of $88.31 million for the quarter, compared to analysts' expectations of $85.48 million. During the same period in the prior year, the firm posted ($1.44) EPS. On average, equities analysts expect that Novavax will post -1.46 EPS for the current fiscal year.

Remove Ads

Insider Buying and Selling at Novavax

In other news, Director Rachel K. King sold 4,150 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $9.02, for a total value of $37,433.00. Following the completion of the transaction, the director now owns 14,770 shares of the company's stock, valued at $133,225.40. The trade was a 21.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James F. Young sold 5,400 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total value of $43,200.00. Following the sale, the director now directly owns 51,760 shares in the company, valued at approximately $414,080. This trade represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,150 shares of company stock valued at $119,641. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of Novavax by 34.5% during the 3rd quarter. Creative Planning now owns 32,482 shares of the biopharmaceutical company's stock valued at $410,000 after acquiring an additional 8,339 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company's stock valued at $77,000 after purchasing an additional 1,598 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Novavax during the 3rd quarter worth approximately $214,000. Nisa Investment Advisors LLC lifted its position in shares of Novavax by 1,192.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 23,449 shares of the biopharmaceutical company's stock valued at $296,000 after buying an additional 21,635 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Novavax by 3,538.8% during the 3rd quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company's stock valued at $155,000 after buying an additional 11,961 shares in the last quarter. Hedge funds and other institutional investors own 53.04% of the company's stock.

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.