Novavax (NASDAQ:NVAX) Stock Price Up 6.7% - Still a Buy?

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) rose 6.7% during mid-day trading on Friday . The stock traded as high as $8.36 and last traded at $8.40. Approximately 919,344 shares were traded during trading, a decline of 89% from the average daily volume of 8,061,799 shares. The stock had previously closed at $7.87.

Analyst Ratings Changes

Several brokerages have commented on NVAX. HC Wainwright restated a "buy" rating and issued a $19.00 price objective on shares of Novavax in a report on Tuesday, December 10th. BTIG Research started coverage on Novavax in a research note on Friday, February 28th. They issued a "buy" rating and a $19.00 target price for the company. Finally, TD Cowen upgraded Novavax to a "hold" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Novavax presently has an average rating of "Hold" and an average price target of $18.00.

Novavax Stock Performance

The stock has a market capitalization of $1.27 billion, a P/E ratio of -3.50, a PEG ratio of 2.85 and a beta of 2.92. The business has a 50-day moving average price of $8.46 and a 200 day moving average price of $9.71.

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

Remove Ads

Insider Activity

In other news, Director James F. Young sold 5,400 shares of the firm's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total transaction of $43,200.00. Following the sale, the director now owns 51,760 shares of the company's stock, valued at $414,080. This trade represents a 9.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rachel K. King sold 4,150 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 14,770 shares of the company's stock, valued at $133,225.40. The trade was a 21.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,150 shares of company stock worth $119,641 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Novavax

Hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new stake in Novavax during the fourth quarter valued at $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Novavax by 19.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 268,684 shares of the biopharmaceutical company's stock valued at $2,160,000 after purchasing an additional 44,359 shares during the period. Twinbeech Capital LP purchased a new stake in shares of Novavax during the 4th quarter valued at about $555,000. Sanofi bought a new position in shares of Novavax in the 4th quarter worth approximately $55,319,000. Finally, ProShare Advisors LLC boosted its holdings in shares of Novavax by 45.1% in the fourth quarter. ProShare Advisors LLC now owns 70,988 shares of the biopharmaceutical company's stock worth $571,000 after buying an additional 22,051 shares during the last quarter. 53.04% of the stock is owned by institutional investors.

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.