Novavax (NASDAQ:NVAX) Trading 3.4% Higher

Novavax, Inc. (NASDAQ:NVAX) shot up 3.4% during trading on Wednesday . The company traded as high as $15.56 and last traded at $15.42. 1,132,956 shares changed hands during trading, a decline of 90% from the average session volume of 10,980,392 shares. The stock had previously closed at $14.91.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVAX. HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research report on Monday, May 13th. TD Cowen raised their price objective on Novavax from $5.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, May 13th. B. Riley upped their target price on Novavax from $11.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised Novavax from an “underweight” rating to a “neutral” rating in a research note on Friday, May 10th. Finally, Bank of America upgraded shares of Novavax from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $4.00 to $12.00 in a report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.50.

Novavax Stock Down 3.5 %

The firm’s 50-day moving average price is $6.11 and its 200-day moving average price is $5.40.

Novavax (NASDAQ:NVAX) last issued its earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The firm had revenue of $93.90 million during the quarter, compared to the consensus estimate of $71.32 million. Novavax’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm earned ($3.41) earnings per share. Research analysts forecast that Novavax, Inc. will post -0.61 EPS for the current fiscal year.

Insider Activity

In related news, insider Filip Dubovsky sold 47,312 shares of Novavax stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $13.90, for a total transaction of $657,636.80. Following the sale, the insider now owns 38,953 shares of the company’s stock, valued at approximately $541,446.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Novavax

Institutional investors have recently made changes to their positions in the business. Swedbank AB acquired a new stake in Novavax in the first quarter valued at $26,000. Herr Investment Group LLC acquired a new stake in shares of Novavax in the 1st quarter valued at about $48,000. Alpine Global Management LLC bought a new position in shares of Novavax during the first quarter worth about $49,000. Ameritas Investment Partners Inc. increased its holdings in Novavax by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 2,711 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in Novavax by 23.7% during the first quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 2,447 shares in the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.

About Novavax

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.