Novavax (NASDAQ:NVAX) Stock Price Up 6.1% – Time to Buy?

Novavax, Inc. (NASDAQ:NVAX)’s share price shot up 6.1% during mid-day trading on Thursday . The company traded as high as $9.37 and last traded at $9.37. 2,534,306 shares were traded during trading, a decline of 50% from the average session volume of 5,101,912 shares. The stock had previously closed at $8.83.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVAX. HC Wainwright reaffirmed a “buy” rating and set a $19.00 target price on shares of Novavax in a research report on Tuesday, December 10th. Jefferies Financial Group lowered their price target on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, B. Riley reiterated a “buy” rating and set a $26.00 price target (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.83.

Novavax Stock Down 3.5 %

The business has a 50-day simple moving average of $8.73 and a two-hundred day simple moving average of $10.92. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -4.08 and a beta of 2.07.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.07. The business had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. During the same period in the prior year, the firm posted ($1.26) EPS. Novavax’s revenue for the quarter was down 54.8% on a year-over-year basis. As a group, equities analysts anticipate that Novavax, Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling at Novavax

In related news, Director Rachel K. King sold 4,150 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $9.02, for a total transaction of $37,433.00. Following the sale, the director now directly owns 14,770 shares in the company, valued at $133,225.40. This represents a 21.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James F. Young sold 5,400 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total value of $43,200.00. Following the completion of the transaction, the director now owns 51,760 shares in the company, valued at $414,080. The trade was a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,150 shares of company stock valued at $119,641 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Spire Wealth Management acquired a new position in shares of Novavax in the 4th quarter valued at $29,000. Amalgamated Bank raised its stake in Novavax by 26.9% during the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,036 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 1,598 shares during the period. KBC Group NV raised its stake in Novavax by 97.0% during the 4th quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 3,917 shares during the period. Finally, US Bancorp DE raised its stake in Novavax by 3,538.8% during the 3rd quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 11,961 shares during the period. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.