Novavax (NASDAQ:NVAX) Stock Jumps 10.5% – Still a Buy?

Novavax, Inc. (NASDAQ:NVAX)’s stock price was up 10.5% during mid-day trading on Monday. The stock traded as high as $11.25 and last traded at $11.5620. 3,160,292 shares traded hands during trading, a decline of 34% from the average daily volume of 4,772,155 shares. The stock had previously closed at $10.46.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NVAX shares. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Novavax in a report on Tuesday, August 4th. BTIG Research reiterated a “buy” rating and issued a $19.00 target price on shares of Novavax in a research note on Thursday, June 11th. Finally, Zacks Research lowered shares of Novavax from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.00.

Novavax Price Performance

The firm has a fifty day simple moving average of $9.15 and a two-hundred day simple moving average of $9.03. The firm has a market capitalization of $1.94 billion, a P/E ratio of -7.72 and a beta of 2.44.

Novavax (NASDAQ:NVAX) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.06. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The firm had revenue of $56.70 million for the quarter, compared to analyst estimates of $52.51 million. During the same period in the previous year, the company posted $0.62 earnings per share. The business’s revenue was down 76.2% on a year-over-year basis. On average, research analysts anticipate that Novavax, Inc. will post -0.46 EPS for the current year.

Institutional Investors Weigh In On Novavax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. Duncker Streett & Co. Inc. increased its stake in shares of Novavax by 917.3% in the first quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 3,825 shares in the last quarter. KBC Group NV lifted its stake in shares of Novavax by 34.9% during the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 1,229 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Novavax by 292.5% during the 2nd quarter. Allworth Financial LP now owns 4,353 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 3,244 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Novavax in the 2nd quarter worth approximately $42,000. Finally, Principal Financial Group Inc. purchased a new position in Novavax in the 1st quarter valued at approximately $83,000. 53.04% of the stock is currently owned by institutional investors.

Novavax Company Profile

Novavax, Inc is a biotechnology company focused on the discovery, development and commercialization of vaccines. The company uses its recombinant protein-based vaccine platform and Matrix-M adjuvant technology to develop vaccines designed to stimulate targeted immune responses.

Novavax’s principal commercial product is its protein-based COVID-19 vaccine, marketed in various regions under the Nuvaxovid or Novavax COVID-19 Vaccine name. The vaccine has been authorized or approved in multiple markets, including the United States, Europe and other international jurisdictions, with availability and regulatory status varying by country.