Novavax (NASDAQ:NVAX) Shares Up 5.4%

Novavax, Inc. (NASDAQ:NVAX) shares traded up 5.4% during trading on Friday . The stock traded as high as $13.36 and last traded at $13.19. 3,499,232 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 10,421,010 shares. The stock had previously closed at $12.52.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Bank of America boosted their price objective on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. Finally, B. Riley reiterated a “buy” rating and set a $23.00 price target (down from $25.00) on shares of Novavax in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.80.

Novavax Price Performance

The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -4.18 and a beta of 2.04. The firm has a 50 day moving average price of $13.01 and a 200-day moving average price of $10.60.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The business had revenue of $415.50 million for the quarter, compared to the consensus estimate of $458.57 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. Equities research analysts predict that Novavax, Inc. will post -1.04 earnings per share for the current year.

Institutional Trading of Novavax

Several institutional investors and hedge funds have recently bought and sold shares of NVAX. Shah Capital Management raised its stake in shares of Novavax by 19.0% during the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after purchasing an additional 1,544,263 shares during the last quarter. Rafferty Asset Management LLC increased its stake in shares of Novavax by 62.4% during the fourth quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock worth $7,737,000 after acquiring an additional 619,370 shares during the period. Coatue Management LLC acquired a new stake in Novavax in the fourth quarter valued at about $7,294,000. TSP Capital Management Group LLC increased its position in 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 worth $6,582,000 after purchasing an additional 265,250 shares during the period. Finally, Farallon Capital Management LLC purchased a new position in shares of Novavax during the 1st quarter worth approximately $5,406,000. Hedge funds and other institutional investors own 53.04% of the company’s stock.

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.