Novavax (NASDAQ:NVAX) Trading Up 8.6%

Novavax, Inc. (NASDAQ:NVAXGet Rating) shares were up 8.6% on Friday . The company traded as high as $13.09 and last traded at $12.81. Approximately 122,808 shares changed hands during trading, a decline of 98% from the average daily volume of 7,861,354 shares. The stock had previously closed at $11.80.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NVAX. JPMorgan Chase & Co. cut shares of Novavax from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $132.00 to $27.00 in a report on Thursday, September 22nd. StockNews.com upgraded shares of Novavax from a “sell” rating to a “hold” rating in a report on Saturday, November 19th. Cowen decreased their price objective on shares of Novavax to $55.00 in a report on Thursday, October 13th. Jefferies Financial Group began coverage on shares of Novavax in a report on Friday, December 2nd. They set a “hold” rating for the company. Finally, B. Riley decreased their price objective on shares of Novavax from $74.00 to $37.00 and set a “buy” rating for the company in a report on Monday, January 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $92.50.

Novavax Price Performance

The stock’s 50-day moving average price is $15.10 and its 200 day moving average price is $29.49. The firm has a market cap of $964.77 million, a P/E ratio of -0.71 and a beta of 1.89.

Novavax (NASDAQ:NVAXGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The biopharmaceutical company reported ($2.15) EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($4.36). The firm had revenue of $734.58 million for the quarter, compared to analyst estimates of $555.50 million. The firm’s quarterly revenue was up 310.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($4.31) earnings per share. As a group, analysts forecast that Novavax, Inc. will post -7.47 EPS for the current fiscal year.

Institutional Trading of Novavax

Institutional investors have recently made changes to their positions in the business. US Bancorp DE raised its position in Novavax by 9.0% during the second quarter. US Bancorp DE now owns 2,270 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 187 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Novavax by 14.4% during the second quarter. Geneos Wealth Management Inc. now owns 2,070 shares of the biopharmaceutical company’s stock worth $118,000 after acquiring an additional 261 shares in the last quarter. Toroso Investments LLC raised its position in Novavax by 15.3% during the first quarter. Toroso Investments LLC now owns 3,297 shares of the biopharmaceutical company’s stock worth $243,000 after acquiring an additional 437 shares in the last quarter. Xponance Inc. raised its position in Novavax by 6.0% during the second quarter. Xponance Inc. now owns 9,218 shares of the biopharmaceutical company’s stock worth $474,000 after acquiring an additional 523 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new stake in Novavax during the second quarter worth $27,000. Institutional investors own 45.70% of the company’s stock.

About Novavax

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Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.

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