Novavax (NASDAQ:NVAX) Trading 10.1% Higher - Should You Buy?

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) was up 10.1% on Friday . The company traded as high as $9.29 and last traded at $9.14. Approximately 1,504,325 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 9,437,857 shares. The stock had previously closed at $8.30.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of Novavax from $31.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. B. Riley reaffirmed a "buy" rating and issued a $26.00 price target (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. HC Wainwright reiterated a "buy" rating and set a $19.00 price objective on shares of Novavax in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Novavax from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $17.83.

Novavax Stock Performance

The stock has a market cap of $1.43 billion, a P/E ratio of -3.96 and a beta of 2.02. The company has a 50-day simple moving average of $9.99 and a 200-day simple moving average of $12.38.

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

Institutional Trading of Novavax

Several hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise boosted its holdings in Novavax by 500.0% in the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company's stock valued at $38,000 after acquiring an additional 2,500 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Novavax by 26.9% in the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company's stock valued at $62,000 after purchasing an additional 1,036 shares during the last quarter. Signaturefd LLC grew its position in shares of Novavax by 214.5% during the 2nd quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company's stock worth $72,000 after buying an additional 3,874 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Novavax by 38.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company's stock worth $77,000 after buying an additional 1,598 shares during the last quarter. Finally, Midland Wealth Advisors LLC acquired a new position in Novavax in the second quarter valued at approximately $152,000. 53.04% of the stock is owned by 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.