Novavax (NASDAQ:NVAX) announced its earnings results on Wednesday. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12), Briefing.com reports. The business had revenue of $7.70 million during the quarter, compared to analysts’ expectations of $9.63 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. Novavax’s quarterly revenue was down 8.3% on a year-over-year basis.
Shares of NASDAQ:NVAX traded down $0.05 during mid-day trading on Friday, reaching $1.79. The company had a trading volume of 4,060,575 shares, compared to its average volume of 7,165,442. The stock has a market capitalization of $730.75 million, a PE ratio of -2.84 and a beta of 2.51. Novavax has a one year low of $1.05 and a one year high of $2.75.
Several large investors have recently bought and sold shares of NVAX. Millennium Management LLC raised its holdings in shares of Novavax by 338.9% in the 1st quarter. Millennium Management LLC now owns 5,319,314 shares of the biopharmaceutical company’s stock worth $11,171,000 after purchasing an additional 4,107,352 shares during the period. UBS Group AG raised its holdings in shares of Novavax by 513.2% in the 1st quarter. UBS Group AG now owns 1,611,084 shares of the biopharmaceutical company’s stock worth $3,383,000 after purchasing an additional 1,348,341 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of Novavax in the 2nd quarter worth approximately $1,675,000. Northern Trust Corp raised its holdings in shares of Novavax by 22.0% in the 2nd quarter. Northern Trust Corp now owns 4,429,972 shares of the biopharmaceutical company’s stock worth $5,935,000 after purchasing an additional 797,965 shares during the period. Finally, DAFNA Capital Management LLC bought a new stake in shares of Novavax in the 2nd quarter worth approximately $1,005,000. 42.32% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on the company. BidaskClub upgraded Novavax from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. Zacks Investment Research downgraded Novavax from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Cantor Fitzgerald set a $2.00 target price on Novavax and gave the stock a “hold” rating in a research note on Wednesday, September 26th. B. Riley set a $10.00 price target on shares of Novavax and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, JPMorgan Chase & Co. raised shares of Novavax from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $2.00 to $2.25 in a report on Friday, September 21st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $3.37.
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Novavax Company Profile
Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.
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