Novavax, Inc. (NASDAQ:NVAX – Get Free Report)’s share price rose 5.3% during mid-day trading on Monday . The company traded as high as $9.91 and last traded at $9.7490. 1,125,037 shares traded hands during trading, a decline of 76% from the average daily volume of 4,654,066 shares. The stock had previously closed at $9.26.
Analyst Ratings Changes
NVAX has been the subject of several recent analyst reports. TD Cowen increased their price target on Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research report on Thursday, June 11th. Zacks Research downgraded shares of Novavax from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Novavax in a research note on Tuesday, August 4th. Finally, Wall Street Zen cut shares of Novavax from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.00.
Novavax Price Performance
Novavax (NASDAQ:NVAX – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.06. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The business had revenue of $56.70 million during the quarter, compared to the consensus estimate of $52.51 million. During the same quarter last year, the firm posted $0.62 EPS. The company’s quarterly revenue was down 76.2% on a year-over-year basis. On average, equities analysts predict that Novavax, Inc. will post -0.47 EPS for the current year.
Institutional Trading of Novavax
Hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV grew its position in Novavax by 34.9% during the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 1,229 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Novavax by 1.0% during the third quarter. Legal & General Group Plc now owns 155,743 shares of the biopharmaceutical company’s stock valued at $1,350,000 after purchasing an additional 1,529 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Novavax by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 78,048 shares of the biopharmaceutical company’s stock valued at $492,000 after purchasing an additional 1,718 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Novavax by 6.4% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 34,663 shares of the biopharmaceutical company’s stock worth $233,000 after purchasing an additional 2,100 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its stake in shares of Novavax by 9.0% in the second quarter. E Fund Management Co. Ltd. now owns 28,280 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 2,326 shares during the period. Institutional investors own 53.04% of the company’s stock.
About Novavax
Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.
The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.
Read More
- Five stocks we like better than Novavax
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
- AST SpaceMobile Is Down 54%—Can FCC Progress and BlueBirds Reverse the Slide?
- Don’t Miss These 3 Companies Delivering Strong Guidance Updates
- Insider Confidence Is Building in These 3 Very Different Stocks
Receive News & Ratings for Novavax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novavax and related companies with MarketBeat.com's FREE daily email newsletter.
