Novavax (NASDAQ:NVAX) Sets New 52-Week High at $15.69

Novavax, Inc. (NASDAQ:NVAX - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $15.69 and last traded at $15.33, with a volume of 5190055 shares changing hands. The stock had previously closed at $14.79.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVAX. Bank of America raised shares of Novavax from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $4.00 to $12.00 in a research note on Friday, May 10th. JPMorgan Chase & Co. upgraded shares of Novavax from an "underweight" rating to a "neutral" rating in a research report on Friday, May 10th. TD Cowen lifted their price target on shares of Novavax from $5.00 to $10.00 and gave the company a "hold" rating in a research report on Monday, May 13th. Finally, HC Wainwright reissued a "buy" rating and set a $19.00 price target on shares of Novavax in a research note on Monday, May 13th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.00.

Novavax Stock Performance

The stock has a market capitalization of $2.09 billion, a PE ratio of -4.70 and a beta of 1.63. The company's fifty day simple moving average is $5.70 and its two-hundred day simple moving average is $5.28.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($1.04) by ($0.01). The firm had revenue of $93.90 million for the quarter, compared to analyst estimates of $71.32 million. During the same period last year, the business posted ($3.41) earnings per share. Novavax's quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts forecast that Novavax, Inc. will post -0.61 EPS for the current fiscal year.

Insider Transactions at Novavax

In related news, insider Filip Dubovsky sold 47,312 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total transaction of $657,636.80. Following the sale, the insider now owns 38,953 shares of the company's stock, valued at $541,446.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Novavax

Several institutional investors and hedge funds have recently modified their holdings of NVAX. Commonwealth Equity Services LLC grew its holdings in Novavax by 14.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,307 shares of the biopharmaceutical company's stock valued at $125,000 after buying an additional 2,201 shares during the period. Edgestream Partners L.P. boosted its position in shares of Novavax by 23.7% in the first 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. Ameritas Investment Partners Inc. grew its holdings in Novavax by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company's stock valued at $54,000 after purchasing an additional 2,711 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Novavax by 11.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,533 shares of the biopharmaceutical company's stock worth $293,000 after purchasing an additional 4,045 shares during the last quarter. Finally, Swedbank AB purchased a new position in Novavax during the first quarter worth approximately $26,000. 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.