Novavax Inc. (NVAX) Trading 5.8% Higher
Novavax Inc. (NASDAQ:NVAX) shares traded up 5.8% during trading on Wednesday . The company traded as high as $7.65 and last traded at $7.61, with a volume of 4,359,952 shares changing hands. The stock had previously closed at $7.19.
A number of research analysts have commented on the stock. Citigroup Inc. upped their target price on shares of Novavax from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Novavax in a research report on Wednesday, July 27th. Vetr cut shares of Novavax from a “strong-buy” rating to a “buy” rating and set a $7.77 target price on the stock. in a research report on Monday, July 25th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $14.00 target price on shares of Novavax in a research report on Wednesday, June 29th. Finally, Zacks Investment Research raised shares of Novavax from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $11.70.
The firm has a 50 day moving average price of $7.23 and a 200-day moving average price of $5.77. The stock’s market cap is $2.06 billion.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by $0.02. The company earned $4.20 million during the quarter, compared to analysts’ expectations of $10.39 million. The company’s quarterly revenue was down 57.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) EPS. Equities research analysts predict that Novavax Inc. will post ($0.97) EPS for the current fiscal year.
In related news, Director Gary C. Evans sold 18,998 shares of Novavax stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $6.50, for a total transaction of $123,487.00. Following the completion of the sale, the director now owns 321,979 shares in the company, valued at approximately $2,092,863.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary C. Evans sold 50,000 shares of Novavax stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $5.41, for a total value of $270,500.00. Following the sale, the director now owns 357,111 shares of the company’s stock, valued at approximately $1,931,970.51. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Novavax stock. Rhumbline Advisers increased its position in Novavax Inc. (NASDAQ:NVAX) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 271,881 shares of the biopharmaceutical company’s stock after buying an additional 30,395 shares during the period. Rhumbline Advisers owned 0.10% of Novavax worth $2,281,000 as of its most recent filing with the SEC.
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.