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

Novavax, Inc. (NASDAQ:NVAX)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NVAX shares. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target on shares of Novavax in a report on Monday, May 13th. Bank of America upped their price objective on Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. TD Cowen upped their price objective on Novavax from $5.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, May 13th. B. Riley upped their price objective on Novavax from $11.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. upgraded Novavax from an “underweight” rating to a “neutral” rating in a research note on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.00.

Novavax Stock Performance

The firm has a market capitalization of $1.84 billion, a P/E ratio of -4.14 and a beta of 1.98. The stock has a 50-day moving average of $13.60 and a 200 day moving average of $7.70.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The company had revenue of $93.90 million during the quarter, compared to analyst estimates of $71.32 million. Novavax’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($3.41) EPS. On average, equities analysts predict that Novavax, Inc. will post 0.49 EPS for the current year.

Insider Buying and Selling

In other Novavax news, Director James F. Young sold 7,500 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $13.72, for a total value of $102,900.00. Following the transaction, the director now directly owns 69,260 shares in the company, valued at approximately $950,247.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Filip Dubovsky sold 47,312 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total value of $657,636.80. Following the transaction, the insider now owns 38,953 shares of the company’s stock, valued at approximately $541,446.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James F. Young sold 7,500 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total value of $102,900.00. Following the completion of the transaction, the director now directly owns 69,260 shares in the company, valued at approximately $950,247.20. The disclosure for this sale can be found here. Insiders have sold a total of 62,312 shares of company stock worth $866,212 in the last three months. Insiders own 0.90% of the company’s stock.

Institutional Trading of Novavax

Several hedge funds have recently added to or reduced their stakes in NVAX. Swedbank AB bought a new position in Novavax during the 1st quarter worth about $26,000. Herr Investment Group LLC bought a new position in Novavax during the first quarter worth about $48,000. Alpine Global Management LLC bought a new position in Novavax during the first quarter worth about $49,000. Ameritas Investment Partners Inc. grew its holdings in Novavax by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 2,711 shares during the period. Finally, Edgestream Partners L.P. lifted its position in Novavax by 23.7% during the first quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 2,447 shares during the last quarter. 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.