Novavax Inc. (NVAX) Shares Up 2%
Novavax Inc. (NASDAQ:NVAX) shares shot up 2% on Friday . The company traded as high as $7.14 and last traded at $7.00, with a volume of 5,011,461 shares trading hands. The stock had previously closed at $6.86.
A number of research firms recently weighed in on NVAX. FBR & Co set a $17.00 target price on shares of Novavax and gave the company a “buy” rating in a research note on Thursday. Zacks Investment Research cut shares of Novavax from a “hold” rating to a “sell” rating in a research note on Wednesday. Vetr cut shares of Novavax from a “buy” rating to a “hold” rating and set a $7.86 target price on the stock. in a research note on Tuesday, August 9th. Citigroup Inc. lifted their target price on shares of Novavax from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Novavax in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $11.05.
The company’s market cap is $1.91 billion. The company has a 50 day moving average of $7.33 and a 200 day moving average of $5.83.
Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.04. The firm had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $8.03 million. Novavax’s revenue for the quarter was down 82.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) EPS. On average, equities analysts forecast that Novavax Inc. will post ($1.07) earnings per share for the current year.
In other news, Director Gary C. Evans sold 18,998 shares of the stock in a transaction on Monday, June 6th. The shares were 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 in the company, valued at $2,092,863.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary C. Evans sold 50,000 shares of the stock in a transaction 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 owns 357,111 shares in the company, 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 raised its position in Novavax Inc. (NASDAQ:NVAX) by 12.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,881 shares of the biopharmaceutical company’s stock after buying an additional 30,395 shares during the period. Rhumbline Advisers owned approximately 0.10% of Novavax worth $2,281,000 as of its most recent SEC filing.
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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