Shares of Novavax, Inc. (NASDAQ:NVAX – Get Free Report) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $9.02 and traded as high as $10.85. Novavax shares last traded at $10.60, with a volume of 4,342,055 shares.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on NVAX shares. BTIG Research restated 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 Novavax from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Novavax in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Novavax from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.00.
View Our Latest Analysis on NVAX
Novavax Stock Up 0.3%
Novavax (NASDAQ:NVAX – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.06. The company had revenue of $56.70 million during the quarter, compared to analyst estimates of $52.51 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The firm’s revenue was down 76.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, research analysts expect that Novavax, Inc. will post -0.46 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in Novavax during the second quarter valued at $42,000. Squarepoint Ops LLC bought a new stake in shares of Novavax in the 2nd quarter worth about $1,258,000. Allworth Financial LP raised its position in shares of Novavax by 292.5% during the 2nd quarter. Allworth Financial LP now owns 4,353 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 3,244 shares in the last quarter. Corient Private Wealth LP purchased a new stake in shares of Novavax during the 2nd quarter valued at about $155,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Novavax in the 2nd quarter valued at about $739,000. 53.04% of the stock is owned by hedge funds and other institutional investors.
About Novavax
Novavax, Inc is a biotechnology company focused on discovering, developing and commercializing vaccines for infectious diseases. The company’s vaccine platform uses recombinant nanoparticle technology and Matrix-M, its proprietary saponin-based adjuvant, which is designed to enhance and broaden immune responses.
Novavax’s primary commercial product is Nuvaxovid, a protein-based COVID-19 vaccine authorized in multiple markets. The vaccine has also been marketed as Covovax through partnerships in certain countries.
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