Novavax (NASDAQ:NVAX) Stock Price Up 11.6% – What’s Next?

Novavax, Inc. (NASDAQ:NVAX) was up 11.6% on Tuesday . The company traded as high as $10.36 and last traded at $10.28. Approximately 2,581,551 shares traded hands during trading, a decline of 47% from the average daily volume of 4,872,616 shares. The stock had previously closed at $9.21.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NVAX shares. B. Riley Financial restated a “buy” rating on shares of Novavax in a research note on Thursday, April 9th. Jefferies Financial Group restated a “buy” rating on shares of Novavax in a research note on Thursday, March 12th. Weiss Ratings cut shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. TD Cowen lifted their price objective on shares of Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Finally, HC Wainwright lifted their price objective on shares of Novavax from $11.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Five research 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’s stock. Based on data from MarketBeat.com, Novavax currently has an average rating of “Hold” and a consensus target price of $12.13.

Novavax Stock Up 12.7%

The firm’s 50-day simple moving average is $8.83 and its 200 day simple moving average is $8.28. The stock has a market capitalization of $1.71 billion, a P/E ratio of -17.90 and a beta of 2.37.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) EPS 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 for the quarter, compared to analysts’ expectations of $79.81 million. During the same period in the previous year, the business earned $2.93 earnings per share. Novavax’s revenue for the quarter was down 79.0% compared to the same quarter last year. As a group, equities analysts anticipate that Novavax, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Novavax

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Edgestream Partners L.P. bought a new stake in Novavax in the first quarter worth about $4,234,000. California State Teachers Retirement System raised its holdings in Novavax by 39.9% during the 1st quarter. California State Teachers Retirement System now owns 186,638 shares of the biopharmaceutical company’s stock worth $1,519,000 after buying an additional 53,234 shares during the period. Quantinno Capital Management LP raised its holdings in Novavax by 53.4% during the 1st quarter. Quantinno Capital Management LP now owns 35,359 shares of the biopharmaceutical company’s stock worth $288,000 after buying an additional 12,304 shares during the period. Renaissance Technologies LLC acquired a new stake in Novavax during the 1st quarter worth about $4,049,000. Finally, Caxton Associates LLP acquired a new stake in Novavax during the 1st quarter worth about $90,000. 53.04% of the stock is currently owned by institutional investors.

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.