Novavax (NASDAQ:NVAX) Shares Gap Up to $13.11

Novavax, Inc. (NASDAQ:NVAX - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $13.11, but opened at $13.60. Novavax shares last traded at $13.57, with a volume of 1,452,714 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $19.00 price objective on shares of Novavax in a research report on Monday, May 13th. TD Cowen increased their target price on shares of Novavax from $5.00 to $10.00 and gave the stock a "hold" rating in a research report on Monday, May 13th. Bank of America boosted their price target 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. B. Riley upped their price target on shares of Novavax from $11.00 to $29.00 and gave the company a "buy" rating in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Novavax from an "underweight" rating to a "neutral" rating in a research note on Friday, May 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $19.00.

Novavax Stock Performance

The firm has a market cap of $2.12 billion, a P/E ratio of -4.75 and a beta of 1.99. The business has a 50-day simple moving average of $13.60 and a 200 day simple moving average of $7.74.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The business had revenue of $93.90 million during the quarter, compared to analyst estimates of $71.32 million. The company's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned ($3.41) earnings per share. On average, research analysts expect that Novavax, Inc. will post 0.49 EPS for the current year.

Insiders Place Their Bets

In other Novavax news, Director James F. Young sold 7,500 shares of the company's stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $13.72, for a total value of $102,900.00. Following the completion of the sale, the director now owns 69,260 shares in the company, valued at $950,247.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Novavax news, insider Filip Dubovsky sold 47,312 shares of the stock in a transaction on 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 owns 38,953 shares in the company, valued at approximately $541,446.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James F. Young sold 7,500 shares of the firm's stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total value of $102,900.00. Following the sale, the director now directly owns 69,260 shares in the company, valued at $950,247.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,312 shares of company stock valued at $866,212. Insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 978,873 shares during the last quarter. Shah Capital Management raised its position in Novavax by 4.3% during the first quarter. Shah Capital Management now owns 8,117,827 shares of the biopharmaceutical company's stock valued at $38,803,000 after purchasing an additional 337,071 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of Novavax by 62.4% in the 4th quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company's stock valued at $7,737,000 after purchasing an additional 619,370 shares during the last quarter. Coatue Management LLC purchased a new position in shares of Novavax in the 4th quarter worth approximately $7,294,000. Finally, TSP Capital Management Group LLC increased its position in shares of Novavax by 23.9% during the 1st quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company's stock valued at $6,582,000 after purchasing an additional 265,250 shares during the last quarter. Hedge funds and other institutional investors own 53.04% of the company's stock.

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.