Novavax (NASDAQ:NVAX) Trading Up 6.6% - Still a Buy?

Shares of Novavax, Inc. (NASDAQ:NVAX - Get Free Report) traded up 6.6% during mid-day trading on Thursday . The stock traded as high as $8.67 and last traded at $8.57. 1,244,773 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 9,060,255 shares. The stock had previously closed at $8.04.

Analyst Upgrades and Downgrades

NVAX has been the subject of several research analyst reports. Jefferies Financial Group cut their price target on Novavax from $31.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. B. Riley reissued a "buy" rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $19.00 price target on shares of Novavax in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Novavax currently has a consensus rating of "Hold" and a consensus target price of $17.83.

Novavax Stock Performance

The stock has a market cap of $1.37 billion, a PE ratio of -3.79 and a beta of 2.02. The stock has a fifty day moving average price of $8.71 and a 200 day moving average price of $11.38.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts' consensus estimates of ($0.83) by $0.07. The firm had revenue of $84.51 million for the quarter, compared to the consensus estimate of $65.80 million. During the same quarter last year, the firm earned ($1.26) EPS. The company's revenue was down 54.8% on a year-over-year basis. As a group, equities analysts anticipate that Novavax, Inc. will post -1.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Rachel K. King sold 4,150 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $9.02, for a total transaction of $37,433.00. Following the completion of the sale, the director now directly owns 14,770 shares of the company's stock, valued at approximately $133,225.40. The trade was a 21.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James F. Young sold 5,400 shares of the company's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total transaction of $43,200.00. Following the completion of the transaction, the director now owns 51,760 shares in the company, valued at approximately $414,080. The trade was a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,150 shares of company stock valued at $119,641 in the last ninety days. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Novavax

Large investors have recently added to or reduced their stakes in the stock. Shah Capital Management grew its position in shares of Novavax by 19.0% during the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company's stock worth $122,322,000 after buying an additional 1,544,263 shares in the last quarter. State Street Corp grew its holdings in Novavax by 26.7% during the 3rd quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company's stock worth $97,099,000 after acquiring an additional 1,621,772 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Novavax by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company's stock valued at $44,245,000 after purchasing an additional 304,159 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Novavax by 26.7% in the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company's stock worth $32,643,000 after purchasing an additional 517,727 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in shares of Novavax by 48.9% during the third quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company's stock valued at $25,252,000 after purchasing an additional 656,900 shares in the last quarter. 53.04% of the stock is 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.