Novavax (NASDAQ:NVAX) Shares Up 6.1% - Here's Why

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) traded up 6.1% on Thursday . The stock traded as high as $9.37 and last traded at $9.37. 2,534,306 shares changed hands during trading, a decline of 50% from the average session volume of 5,101,912 shares. The stock had previously closed at $8.83.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVAX. HC Wainwright reiterated a "buy" rating and issued a $19.00 price objective on shares of Novavax in a report on Tuesday, December 10th. Jefferies Financial Group lowered their price objective on Novavax from $31.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. Finally, B. Riley reissued a "buy" rating and issued a $26.00 price objective (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $17.83.

Novavax Stock Down 3.5 %

The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -4.08 and a beta of 2.07. The business has a fifty day simple moving average of $8.73 and a two-hundred day simple moving average of $10.91.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.07. The company had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. The business's revenue for the quarter was down 54.8% on a year-over-year basis. During the same quarter last year, the firm earned ($1.26) EPS. As a group, equities analysts predict that Novavax, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Rachel K. King sold 4,150 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $9.02, for a total transaction of $37,433.00. Following the transaction, the director now directly owns 14,770 shares of the company's stock, valued at approximately $133,225.40. The trade was a 21.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James F. Young sold 4,600 shares of Novavax stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $8.48, for a total transaction of $39,008.00. Following the transaction, the director now directly owns 57,160 shares of the company's stock, valued at approximately $484,716.80. This trade represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,150 shares of company stock worth $119,641 over the last three months. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NVAX. Charles Schwab Investment Management Inc. raised its position in shares of Novavax by 16.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company's stock valued at $16,741,000 after buying an additional 187,548 shares in the last quarter. Bank of Montreal Can raised its position in Novavax by 26.7% during the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company's stock valued at $32,643,000 after purchasing an additional 517,727 shares in the last quarter. State Street Corp lifted its stake in Novavax by 26.7% during the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company's stock worth $97,099,000 after purchasing an additional 1,621,772 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Novavax by 110.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 498,532 shares of the biopharmaceutical company's stock valued at $6,296,000 after purchasing an additional 261,464 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Novavax by 300.4% in the 3rd quarter. Franklin Resources Inc. now owns 97,162 shares of the biopharmaceutical company's stock valued at $1,226,000 after purchasing an additional 72,894 shares during the last quarter. 53.04% of the stock is owned by institutional investors.

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.