Novavax, Inc. (NASDAQ:NVAX - Get Free Report) saw an uptick in trading volume on Tuesday . 3,015,795 shares changed hands during mid-day trading, a decline of 34% from the previous session's volume of 4,539,189 shares.The stock last traded at $11.13 and had previously closed at $9.76.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on NVAX shares. B. Riley reaffirmed a "buy" rating and issued a $26.00 price target (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. HC Wainwright reaffirmed a "buy" rating and issued a $19.00 target price on shares of Novavax in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group lowered their price target on shares of Novavax from $31.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.83.
Read Our Latest Stock Analysis on Novavax
Novavax Price Performance
The company has a market cap of $1.73 billion, a PE ratio of -4.79 and a beta of 2.07. The business has a 50-day moving average of $8.68 and a 200 day moving average of $11.28.
Novavax (NASDAQ:NVAX - Get Free Report) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.07. The company had revenue of $84.51 million for the quarter, compared to analysts' expectations of $65.80 million. Novavax's revenue for the quarter was down 54.8% on a year-over-year basis. During the same quarter last year, the firm posted ($1.26) earnings per share. On average, equities analysts predict that Novavax, Inc. will post -1.44 EPS for the current fiscal year.
Insider Transactions at Novavax
In other news, Director Rachel K. King sold 4,150 shares of Novavax stock in a transaction that occurred on 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 in the company, valued at approximately $133,225.40. The trade was a 21.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James F. Young sold 4,600 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $8.48, for a total value of $39,008.00. Following the sale, the director now owns 57,160 shares in the company, valued at $484,716.80. The trade was a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,150 shares of company stock valued at $119,641 over the last 90 days. Company insiders own 1.00% of the company's stock.
Hedge Funds Weigh In On Novavax
Large investors have recently made changes to their positions in the company. Amalgamated Bank increased its stake 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 purchasing an additional 1,036 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company's stock valued at $77,000 after buying an additional 1,598 shares in the last quarter. US Bancorp DE grew its position in Novavax by 3,538.8% during the 3rd quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company's stock worth $155,000 after purchasing an additional 11,961 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Novavax in the 3rd quarter valued at $158,000. Finally, Algert Global LLC acquired a new stake in shares of Novavax during the second quarter worth about $161,000. 53.04% of the stock is owned by hedge funds and other institutional investors.
About Novavax
(
Get Free Report)
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.
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