Shares of Novavax, Inc. (NASDAQ:NVAX) saw strong trading volume on Wednesday . 5,097,071 shares traded hands during mid-day trading, an increase of 109% from the previous session’s volume of 2,434,577 shares.The stock last traded at $4.38 and had previously closed at $3.99.
A number of analysts have recently commented on the company. B. Riley assumed coverage on Novavax in a report on Wednesday, November 27th. They issued a “buy” rating and a $12.00 price target on the stock. Zacks Investment Research lowered Novavax from a “hold” rating to a “sell” rating in a report on Friday, January 10th. ValuEngine upgraded Novavax from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Citigroup cut their price target on Novavax from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Novavax in a report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Novavax presently has an average rating of “Hold” and a consensus target price of $14.81.
The firm has a market cap of $153.55 million, a P/E ratio of -0.57 and a beta of 1.93. The firm has a fifty day moving average of $4.26 and a 200-day moving average of $4.86.
Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.24. The company had revenue of $2.51 million for the quarter, compared to the consensus estimate of $4.40 million. During the same quarter in the previous year, the company posted ($2.40) EPS. As a group, equities research analysts forecast that Novavax, Inc. will post -5.7 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in Novavax by 473.7% during the third quarter. Tower Research Capital LLC TRC now owns 7,166 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 5,917 shares in the last quarter. Rhumbline Advisers raised its holdings in Novavax by 10.3% during the third quarter. Rhumbline Advisers now owns 33,428 shares of the biopharmaceutical company’s stock worth $168,000 after acquiring an additional 3,118 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in Novavax during the second quarter worth about $435,000. Creative Planning raised its holdings in Novavax by 16.5% during the third quarter. Creative Planning now owns 92,344 shares of the biopharmaceutical company’s stock worth $464,000 after acquiring an additional 13,101 shares in the last quarter. Finally, TSP Capital Management Group LLC bought a new stake in Novavax during the fourth quarter worth about $498,000. Institutional investors and hedge funds own 22.06% of the company’s stock.
About Novavax (NASDAQ:NVAX)
Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.
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