Novavax (NASDAQ:NVAX) Shares Up 8.5%

Novavax, Inc. (NASDAQ:NVAX) was up 8.5% during trading on Wednesday . The stock traded as high as $156.00 and last traded at $146.46. Approximately 84,929 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 4,546,478 shares. The stock had previously closed at $134.99.

NVAX has been the topic of a number of research reports. Chardan Capital reiterated a “neutral” rating on shares of Novavax in a report on Wednesday, September 1st. Zacks Investment Research upgraded shares of Novavax from a “sell” rating to a “hold” rating and set a $246.00 price target on the stock in a report on Thursday, August 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $249.00.

The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average is $220.85 and its 200-day moving average is $199.24. The firm has a market capitalization of $10.70 billion, a P/E ratio of -10.80 and a beta of 1.62.

Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, August 5th. The biopharmaceutical company reported ($4.75) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.63) by ($1.12). The company had revenue of $298.02 million for the quarter, compared to analyst estimates of $370.80 million. Novavax had a negative net margin of 80.37% and a negative return on equity of 150.88%. During the same quarter in the previous year, the company earned ($0.30) earnings per share. On average, equities research analysts anticipate that Novavax, Inc. will post -8.37 EPS for the current year.

In other Novavax news, CEO Stanley C. Erck sold 42,829 shares of the stock in a transaction dated Monday, October 4th. The shares were sold at an average price of $176.15, for a total transaction of $7,544,328.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stanley C. Erck sold 49,000 shares of the firm’s stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $175.10, for a total transaction of $8,579,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,601 shares of company stock valued at $36,601,725. Corporate insiders own 2.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Annapolis Financial Services LLC bought a new position in shares of Novavax in the second quarter valued at $32,000. Firestone Capital Management grew its stake in shares of Novavax by 200.0% during the second quarter. Firestone Capital Management now owns 150 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 100 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Novavax by 58.1% in the second quarter. Quadrant Capital Group LLC now owns 166 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 61 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Novavax in the second quarter worth $37,000. Finally, Knuff & Co LLC bought a new stake in shares of Novavax in the second quarter worth $42,000. Institutional investors own 52.46% of the company’s stock.

About Novavax (NASDAQ:NVAX)

Novavax, Inc focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It provides vaccines for COVID-19, seasonal flu, respiratory syncytial virus, Ebola, and Middle East respiratory syndrome. The company was founded in 1987 and is headquartered in Gaithersburg, MD.

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