Novavax (NASDAQ:NVAX) Trading Up 6.7%

Shares of Novavax, Inc. (NASDAQ:NVAX) traded up 6.7% during mid-day trading on Friday . The stock traded as high as $13.03 and last traded at $12.96. 2,902,919 shares changed hands during trading, a decline of 72% from the average session volume of 10,324,533 shares. The stock had previously closed at $12.15.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Bank of America upped their target price on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, June 14th. B. Riley reaffirmed a “buy” rating and set a $23.00 price objective (down previously from $25.00) on shares of Novavax in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their target price on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.80.

Novavax Stock Performance

The company has a 50 day moving average of $12.77 and a two-hundred day moving average of $10.85. The stock has a market capitalization of $1.83 billion, a PE ratio of -4.05 and a beta of 2.04.

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

Hedge Funds Weigh In On Novavax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in Novavax during the 1st quarter valued at about $26,000. Banque Cantonale Vaudoise increased its holdings in Novavax by 500.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 2,500 shares during the period. Herr Investment Group LLC acquired a new position in Novavax in the 1st quarter worth approximately $48,000. Alpine Global Management LLC purchased a new position in Novavax during the 1st quarter worth approximately $49,000. Finally, Ameritas Investment Partners Inc. lifted its stake in Novavax by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 2,711 shares during the period. 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.