Novavax (NASDAQ:NVAX) Stock Passes Above 200 Day Moving Average of $7.61

Novavax, Inc. (NASDAQ:NVAX)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.61 and traded as high as $12.04. Novavax shares last traded at $11.94, with a volume of 5,742,122 shares traded.

Analyst Ratings Changes

NVAX has been the subject of a number of analyst reports. B. Riley raised their price objective on shares of Novavax from $11.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upgraded shares of Novavax from an “underweight” rating to a “neutral” rating in a research note on Friday, May 10th. TD Cowen raised their price objective on shares of Novavax from $5.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Bank of America raised their price objective on shares of Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. Finally, HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research note on Monday, May 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Novavax currently has an average rating of “Hold” and an average price target of $19.00.

Novavax Stock Performance

The business’s fifty day moving average price is $13.60 and its 200-day moving average price is $7.70. The stock has a market cap of $1.84 billion, a PE ratio of -4.14 and a beta of 1.98.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The company had revenue of $93.90 million for the quarter, compared to the consensus estimate of $71.32 million. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.41) earnings per share. Analysts forecast that Novavax, Inc. will post 0.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Novavax news, insider Filip Dubovsky sold 47,312 shares of Novavax stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $13.90, for a total transaction of $657,636.80. Following the transaction, the insider now owns 38,953 shares of the company’s stock, valued at $541,446.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Novavax news, insider Filip Dubovsky sold 47,312 shares of Novavax stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $13.90, for a total transaction of $657,636.80. Following the transaction, the insider now owns 38,953 shares of the company’s stock, valued at $541,446.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James F. Young sold 7,500 shares of Novavax stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $14.09, for a total transaction of $105,675.00. Following the transaction, the director now directly owns 61,760 shares in the company, valued at approximately $870,198.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,312 shares of company stock valued at $866,212. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Novavax

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Novavax by 9.3% during the third quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock valued at $83,633,000 after buying an additional 978,873 shares during the last quarter. Shah Capital Management increased its position in Novavax by 4.3% in the first quarter. Shah Capital Management now owns 8,117,827 shares of the biopharmaceutical company’s stock worth $38,803,000 after purchasing an additional 337,071 shares during the last quarter. Rafferty Asset Management LLC increased its position in Novavax by 62.4% in the fourth quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock worth $7,737,000 after purchasing an additional 619,370 shares during the last quarter. Coatue Management LLC bought a new stake in Novavax in the fourth quarter worth $7,294,000. Finally, TSP Capital Management Group LLC increased its position in Novavax by 23.9% in the first quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock worth $6,582,000 after purchasing an additional 265,250 shares during the last quarter. Institutional investors 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.