B. Riley Has Negative Outlook of Novavax FY2024 Earnings

Novavax, Inc. (NASDAQ:NVAX) – Analysts at B. Riley decreased their FY2024 EPS estimates for Novavax in a research note issued to investors on Thursday, February 20th. B. Riley analyst M. Mamtani now anticipates that the biopharmaceutical company will earn ($1.83) per share for the year, down from their previous forecast of ($1.41). The consensus estimate for Novavax’s current full-year earnings is ($1.46) per share. B. Riley also issued estimates for Novavax’s Q4 2024 earnings at ($1.12) EPS, Q1 2025 earnings at ($0.38) EPS, Q3 2025 earnings at ($0.44) EPS, Q4 2025 earnings at ($0.66) EPS and FY2025 earnings at ($0.84) EPS.

Separately, HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Novavax in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.83.

Novavax Trading Down 3.2 %

NVAX opened at $7.17 on Monday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -3.17, a PEG ratio of 2.85 and a beta of 2.14. Novavax has a twelve month low of $3.81 and a twelve month high of $23.86. The company has a fifty day simple moving average of $8.62 and a 200 day simple moving average of $10.07.

Institutional Trading of Novavax

Institutional investors have recently added to or reduced their stakes in the business. E Fund Management Co. Ltd. increased its position in Novavax by 5.1% during the fourth quarter. E Fund Management Co. Ltd. now owns 25,340 shares of the biopharmaceutical company’s stock worth $204,000 after acquiring an additional 1,219 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Novavax by 38.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 1,598 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Novavax by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company’s stock worth $3,509,000 after acquiring an additional 1,664 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Novavax by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Novavax by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 50,506 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 2,124 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Novavax

In related news, Director James F. Young sold 5,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total transaction of $43,200.00. Following the completion of the sale, the director now directly owns 51,760 shares in the company, valued at approximately $414,080. This trade represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rachel K. King sold 4,150 shares of Novavax stock in a transaction that occurred 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 sale, the director now owns 14,770 shares of the company’s stock, valued at $133,225.40. This trade represents a 21.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,150 shares of company stock valued at $119,641. Company insiders own 1.00% 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.