Novavax, Inc. (NASDAQ:NVAX) Given Average Rating of “Hold” by Brokerages

Novavax, Inc. (NASDAQ:NVAX) has been assigned an average recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $19.00.

NVAX has been the subject of several research analyst reports. Bank of America increased their price objective on shares of Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. TD Cowen increased their price objective on shares of Novavax from $5.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, May 13th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research report on Monday, May 13th. JPMorgan Chase & Co. raised shares of Novavax from an “underweight” rating to a “neutral” rating in a research report on Friday, May 10th. Finally, B. Riley increased their price objective on shares of Novavax from $11.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Novavax

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Novavax by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock valued at $83,633,000 after acquiring an additional 978,873 shares during the period. Shah Capital Management grew its position in shares of Novavax by 4.3% during the 1st quarter. Shah Capital Management now owns 8,117,827 shares of the biopharmaceutical company’s stock valued at $38,803,000 after acquiring an additional 337,071 shares during the period. Rafferty Asset Management LLC grew its position in shares of Novavax by 62.4% during the 4th quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock valued at $7,737,000 after acquiring an additional 619,370 shares during the period. Coatue Management LLC acquired a new stake in shares of Novavax during the 4th quarter valued at about $7,294,000. Finally, TSP Capital Management Group LLC grew its position in shares of Novavax by 23.9% during the 1st quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock valued at $6,582,000 after acquiring an additional 265,250 shares during the period. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Stock Performance

NASDAQ:NVAX opened at $12.06 on Tuesday. Novavax has a fifty-two week low of $3.53 and a fifty-two week high of $23.86. The stock has a market capitalization of $1.69 billion, a P/E ratio of -3.80 and a beta of 1.98. The company’s 50-day simple moving average is $12.98 and its 200-day simple moving average is $7.53.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The firm had revenue of $93.90 million for the quarter, compared to analyst estimates of $71.32 million. During the same quarter in the prior year, the company earned ($3.41) EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. On average, research analysts forecast that Novavax will post 0.49 EPS for the current year.

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.