Novavax (NASDAQ:NVAX) Stock Rating Upgraded by TD Cowen

Novavax (NASDAQ:NVAX) was upgraded by equities researchers at TD Cowen to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also issued reports on NVAX. BTIG Research assumed coverage on shares of Novavax in a research note on Friday. They set a “buy” rating and a $19.00 price target for the company. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Novavax in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Novavax Stock Up 18.0 %

Novavax stock opened at $8.33 on Thursday. Novavax has a 52 week low of $3.81 and a 52 week high of $23.86. The company’s 50 day moving average price is $8.52 and its two-hundred day moving average price is $10.00. The stock has a market cap of $1.33 billion, a P/E ratio of -3.69, a P/E/G ratio of 2.85 and a beta of 2.14.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.24. The company had revenue of $88.31 million for the quarter, compared to analysts’ expectations of $85.48 million. During the same quarter in the previous year, the business earned ($1.44) EPS. On average, equities analysts anticipate that Novavax will post -1.46 EPS for the current year.

Insider Activity at Novavax

In other news, Director Rachel K. King sold 4,150 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $9.02, for a total transaction of $37,433.00. Following the completion of the transaction, the director now directly owns 14,770 shares in the company, valued at $133,225.40. The trade was a 21.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James F. Young sold 4,600 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $8.48, for a total transaction of $39,008.00. Following the transaction, the director now owns 57,160 shares of the company’s stock, valued at $484,716.80. This trade represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,150 shares of company stock worth $119,641. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Novavax by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 15,726,250 shares of the biopharmaceutical company’s stock valued at $126,439,000 after purchasing an additional 296,181 shares in the last quarter. Shah Capital Management grew its position in shares of Novavax by 13.6% during the 4th quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company’s stock valued at $89,637,000 after purchasing an additional 1,333,305 shares in the last quarter. State Street Corp grew its position in shares of Novavax by 26.7% during the 3rd quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock valued at $97,099,000 after purchasing an additional 1,621,772 shares in the last quarter. Sanofi purchased a new position in shares of Novavax during the 4th quarter valued at $55,319,000. Finally, Geode Capital Management LLC grew its position in shares of Novavax by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 3,657,695 shares of the biopharmaceutical company’s stock valued at $29,415,000 after purchasing an additional 155,206 shares in the last quarter. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

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.