B. Riley Estimates Novavax’s FY2024 Earnings (NASDAQ:NVAX)

Novavax, Inc. (NASDAQ:NVAX) – Analysts at B. Riley reduced their FY2024 EPS estimates for shares of Novavax in a research note issued to investors on Thursday, February 20th. B. Riley analyst M. Mamtani now expects 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 reaffirmed a “buy” rating and set a $19.00 price target on shares of Novavax in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.83.

Novavax Stock Performance

NVAX stock opened at $7.99 on Monday. The company has a fifty day moving average price of $8.65 and a 200-day moving average price of $10.10. The company has a market capitalization of $1.28 billion, a P/E ratio of -3.54, a PEG ratio of 2.85 and a beta of 2.14. Novavax has a 52-week low of $3.81 and a 52-week high of $23.86.

Insider Transactions at Novavax

In other news, Director James F. Young sold 5,400 shares of the stock in a transaction 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 $414,080. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rachel K. King sold 4,150 shares of the stock in a transaction 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 owns 14,770 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 14,150 shares of company stock worth $119,641 over the last three months. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Novavax

A number of large investors have recently bought and sold shares of NVAX. Sanofi acquired a new stake in Novavax in the fourth quarter worth $55,319,000. Deep Track Capital LP acquired a new stake in Novavax in the fourth quarter worth $16,080,000. State Street Corp grew its holdings in Novavax by 26.7% in the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after purchasing an additional 1,621,772 shares during the period. Shah Capital Management grew its holdings in Novavax by 13.6% in the fourth quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company’s stock worth $89,637,000 after purchasing an additional 1,333,305 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Novavax by 48.9% in the third quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock worth $25,252,000 after purchasing an additional 656,900 shares during the period. 53.04% of the stock is currently owned by institutional investors and hedge funds.

About Novavax

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.