Novavax (NASDAQ:NVAX) Stock Price Up 11.6% Following Earnings Beat

Novavax, Inc. (NASDAQ:NVAX) shares were up 11.6% on Thursday following a better than expected earnings announcement. The company traded as high as $8.30 and last traded at $8.17. Approximately 2,620,975 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 4,336,841 shares. The stock had previously closed at $7.32.

The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.24. During the same quarter in the previous year, the company posted ($1.44) EPS.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Novavax in a 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.83.

Insider Buying and Selling at Novavax

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Creative Planning raised its position in Novavax by 34.5% during the 3rd quarter. Creative Planning now owns 32,482 shares of the biopharmaceutical company’s stock worth $410,000 after buying an additional 8,339 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,598 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Novavax during the third quarter worth $214,000. Nisa Investment Advisors LLC lifted its position in Novavax by 1,192.7% during the third quarter. Nisa Investment Advisors LLC now owns 23,449 shares of the biopharmaceutical company’s stock valued at $296,000 after purchasing an additional 21,635 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Novavax by 86.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 30,791 shares of the biopharmaceutical company’s stock valued at $389,000 after purchasing an additional 14,296 shares during the last quarter. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Novavax Trading Up 7.6 %

The firm has a 50-day simple moving average of $8.55 and a two-hundred day simple moving average of $10.02. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -3.50, a P/E/G ratio of 2.85 and a beta of 2.14.

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.