Novavax, Inc. (NASDAQ:NVAX – Get Free Report) rose 3.4% during trading on Tuesday . The company traded as high as $13.54 and last traded at $13.46. Approximately 1,167,174 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 10,220,980 shares. The stock had previously closed at $13.02.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on NVAX. Bank of America upped their target price on shares of Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. B. Riley restated a “buy” rating and issued a $23.00 target price (down previously from $25.00) on shares of Novavax in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $31.00 target price on shares of Novavax in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.33.
Get Our Latest Research Report on Novavax
Novavax Stock Up 2.8 %
Novavax (NASDAQ:NVAX – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share (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 analyst estimates of $458.57 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts predict that Novavax, Inc. will post -1.04 EPS for the current year.
Hedge Funds Weigh In On Novavax
Hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Novavax in the 1st quarter worth approximately $1,499,000. Shah Capital Management raised its position in Novavax by 19.0% in the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after acquiring an additional 1,544,263 shares during the period. Edgestream Partners L.P. boosted its stake in shares of Novavax by 23.7% during the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 2,447 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Novavax by 29.9% during the 1st quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock worth $178,000 after acquiring an additional 8,570 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Novavax during the 2nd quarter valued at $1,251,000. 53.04% of the stock is owned by institutional investors.
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.
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