Novavax (NASDAQ:NVAX) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Price action: Novavax shares crossed above their 200‑day moving average (200‑day MA $8.10), trading as high as $11.05 and last at $10.80 on volume of about 5.18 million shares.
• Quarterly beat: The company reported EPS of $0.11 (vs. -$0.66 est.) and revenue of $136.4M (vs. $90.3M est.), a 66.6% YoY revenue increase and a reported net margin of 39.19%.
• Mixed analyst view: Analyst sentiment is split (four Buys, one Hold, four Sells) with a MarketBeat consensus of "Hold" and an average price target of $11.88, while individual targets span roughly $6 to $19.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.10 and traded as high as $11.05. Novavax shares last traded at $10.80, with a volume of 5,177,439 shares.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NVAX shares. Wall Street Zen raised shares of Novavax from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Novavax in a research report on Monday, December 29th. BTIG Research reiterated a "buy" rating and issued a $19.00 price target on shares of Novavax in a research note on Tuesday, January 20th. JPMorgan Chase & Co. cut their price target on shares of Novavax from $7.00 to $6.00 and set an "underweight" rating on the stock in a research report on Tuesday, November 18th. Finally, HC Wainwright increased their price objective on shares of Novavax from $11.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $11.88.

Novavax Price Performance

The business has a fifty day moving average of $8.88 and a 200 day moving average of $8.10. The firm has a market cap of $1.76 billion, a P/E ratio of 4.48 and a beta of 2.54. The company has a quick ratio of 2.10, a current ratio of 2.13 and a debt-to-equity ratio of 5.93.

Novavax (NASDAQ:NVAX - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.77. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.The firm had revenue of $136.40 million for the quarter, compared to analyst estimates of $90.26 million. During the same quarter in the prior year, the company earned ($0.51) earnings per share. The business's revenue for the quarter was up 66.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Novavax, Inc. will post -1.46 earnings per share for the current year.

Institutional Investors Weigh In On Novavax

Several hedge funds have recently added to or reduced their stakes in NVAX. Vanguard Personalized Indexing Management LLC boosted its position in Novavax by 11.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 12,755 shares of the biopharmaceutical company's stock worth $111,000 after purchasing an additional 1,268 shares during the period. Legal & General Group Plc raised its position in shares of Novavax by 1.0% in the third quarter. Legal & General Group Plc now owns 155,743 shares of the biopharmaceutical company's stock valued at $1,350,000 after purchasing an additional 1,529 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Novavax by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,896 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 1,617 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Novavax by 2.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,048 shares of the biopharmaceutical company's stock worth $492,000 after buying an additional 1,718 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Novavax by 5.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 34,095 shares of the biopharmaceutical company's stock worth $215,000 after buying an additional 1,766 shares during the last quarter. Institutional investors and hedge funds own 53.04% of the company's stock.

Novavax Company Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company's lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.

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