Novavax Inc. (NVAX) Stock Price Up 3.3%
Novavax Inc. (NASDAQ:NVAX)’s share price rose 3.3% on Monday . The stock traded as high as $7.97 and last traded at $7.87, with a volume of 3,033,058 shares trading hands. The stock had previously closed at $7.62.
NVAX has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Novavax in a report on Thursday, June 2nd. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $14.00 price objective on shares of Novavax in a research note on Wednesday, June 29th. Vetr raised Novavax from a “buy” rating to a “strong-buy” rating and set a $8.22 price objective for the company in a research note on Tuesday, July 5th. Zacks Investment Research lowered Novavax from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd. Finally, Chardan Capital initiated coverage on Novavax in a research note on Monday, April 4th. They issued a “neutral” rating and a $5.75 price objective for the company. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $12.19.
The firm’s market capitalization is $2.06 billion. The stock has a 50 day moving average price of $6.69 and a 200 day moving average price of $5.74.
Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by $0.02. The company earned $4.20 million during the quarter, compared to the consensus estimate of $10.39 million. The company’s revenue for the quarter was down 57.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) earnings per share. On average, equities research analysts anticipate that Novavax Inc. will post ($0.96) earnings per share for the current fiscal year.
In other Novavax news, Director Gary C. Evans sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $5.41, for a total transaction of $270,500.00. Following the completion of the sale, the director now directly owns 357,111 shares in the company, valued at approximately $1,931,970.51. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gary C. Evans sold 18,998 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $6.50, for a total value of $123,487.00. Following the sale, the director now owns 321,979 shares of the company’s stock, valued at $2,092,863.50. The disclosure for this sale can be found here.
A number of large investors have recently bought and sold shares of the company. ProShare Advisors LLC raised its stake in Novavax by 10.4% in the fourth quarter. ProShare Advisors LLC now owns 266,138 shares of the biopharmaceutical company’s stock valued at $2,233,000 after buying an additional 25,114 shares during the period. Rhumbline Advisers raised its stake in Novavax by 12.6% in the fourth quarter. Rhumbline Advisers now owns 271,881 shares of the biopharmaceutical company’s stock worth $2,281,000 after buying an additional 30,395 shares during the period. American Century Companies Inc. raised its stake in Novavax by 21.8% in the fourth quarter. American Century Companies Inc. now owns 354,286 shares of the biopharmaceutical company’s stock worth $2,972,000 after buying an additional 63,306 shares during the period. Tekla Capital Management LLC bought a new stake in Novavax during the fourth quarter worth about $3,004,000. Finally, California State Teachers Retirement System raised its stake in Novavax by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 496,682 shares of the biopharmaceutical company’s stock worth $4,167,000 after buying an additional 7,860 shares during the period.
Novavax, Inc (Novavax) is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company through its recombinant nanoparticle vaccine technology produces vaccine candidates to respond to both known and newly emerging diseases.
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