Novavax (NASDAQ:NVAX) Reaches New 12-Month High at $11.00

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $11.00 and last traded at $10.73, with a volume of 89464496 shares. The stock had previously closed at $4.47.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NVAX. Bank of America raised shares of Novavax from an "underperform" rating to a "neutral" rating and increased their price target for the company from $4.00 to $12.00 in a research note on Friday. JPMorgan Chase & Co. upgraded Novavax from an "underweight" rating to a "neutral" rating in a research report on Friday. Finally, HC Wainwright dropped their target price on Novavax from $35.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $15.33.

Novavax Price Performance

The stock has a 50 day moving average price of $4.73 and a two-hundred day moving average price of $5.00.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.95). The business had revenue of $291.34 million during the quarter, compared to analysts' expectations of $310.96 million. The company's revenue was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.28) EPS. Sell-side analysts forecast that Novavax, Inc. will post -0.82 earnings per share for the current year.

Institutional Trading of Novavax

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Novavax by 9.3% in the third quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company's stock valued at $83,633,000 after buying an additional 978,873 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Novavax by 467.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company's stock worth $66,000 after purchasing an additional 11,319 shares in the last quarter. Shah Capital Management raised its stake in shares of Novavax by 22.9% in the 4th quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company's stock valued at $37,348,000 after purchasing an additional 1,450,000 shares during the period. SG Americas Securities LLC acquired a new position in shares of Novavax during the fourth quarter worth about $824,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Novavax by 309.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,303 shares of the biopharmaceutical company's stock worth $437,000 after buying an additional 45,574 shares in the last quarter. Institutional investors own 53.04% of the company's stock.

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.