Novavax (NASDAQ:NVAX) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Novavax, Inc. (NASDAQ:NVAX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.25 and traded as high as $9.46. Novavax shares last traded at $9.27, with a volume of 4,930,251 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NVAX shares. TD Cowen upped their price objective on shares of Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of Novavax in a research note on Thursday, April 9th. Jefferies Financial Group reissued a “buy” rating on shares of Novavax in a research note on Thursday, March 12th. HC Wainwright increased their target price on shares of Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.13.

Novavax Trading Up 2.6%

The firm’s 50-day moving average is $8.85 and its two-hundred day moving average is $8.26. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -15.88 and a beta of 2.37.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.19. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The firm had revenue of $118.90 million during the quarter, compared to the consensus estimate of $79.81 million. During the same quarter in the prior year, the firm earned $2.93 EPS. The company’s revenue for the quarter was down 79.0% on a year-over-year basis. On average, analysts predict that Novavax, Inc. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NVAX. AQR Capital Management LLC raised its position in shares of Novavax by 95.2% during the 1st quarter. AQR Capital Management LLC now owns 44,427 shares of the biopharmaceutical company’s stock worth $285,000 after purchasing an additional 21,663 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Novavax by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company’s stock worth $678,000 after purchasing an additional 2,750 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Novavax during the 1st quarter worth about $158,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Novavax by 16.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 312,789 shares of the biopharmaceutical company’s stock valued at $2,005,000 after acquiring an additional 44,105 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Novavax in the 1st quarter valued at about $167,000. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Company Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.