Novavax (NASDAQ:NVAX) Trading 4.4% Higher – Here’s Why

Novavax, Inc. (NASDAQ:NVAX) was up 4.4% on Monday . The company traded as high as $13.10 and last traded at $13.08. Approximately 1,595,230 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 10,116,838 shares. The stock had previously closed at $12.53.

Wall Street Analysts Forecast Growth

NVAX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. B. Riley reissued 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. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $31.00 price target on shares of Novavax in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.83.

Novavax Price Performance

The company has a 50 day simple moving average of $12.51 and a 200-day simple moving average of $11.68. The firm has a market cap of $1.44 billion, a PE ratio of -3.97 and a beta of 2.04.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The firm had revenue of $415.50 million for the quarter, compared to the consensus estimate of $458.57 million. During the same period last year, the business earned $0.58 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Novavax, Inc. will post -0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TSP Capital Management Group LLC boosted its holdings in Novavax by 23.9% during the 1st quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock valued at $6,582,000 after acquiring an additional 265,250 shares during the period. Swiss National Bank boosted its stake in shares of Novavax by 17.1% during the first quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock valued at $1,009,000 after purchasing an additional 30,800 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Novavax in the first quarter worth approximately $1,499,000. Headlands Technologies LLC increased its stake in shares of Novavax by 1,084.0% in the first quarter. Headlands Technologies LLC now owns 55,137 shares of the biopharmaceutical company’s stock worth $264,000 after buying an additional 50,480 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Novavax by 29.9% during the 1st quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 8,570 shares during the last quarter. 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.