Novavax (NASDAQ:NVAX) Trading 6.4% Higher - What's Next?

Key Points

• Novavax's stock price increased by 6.4% on Wednesday, reaching a high of $9.15, although the trading volume fell significantly to 1.5 million shares compared to the average of 6.5 million.
• The company reported better-than-expected earnings, with an earnings per share (EPS) of $0.62 for the last quarter, exceeding analysts' expectations of a loss.
• Analyst ratings on Novavax vary, with four analysts recommending a "Buy," while three have a "Sell" rating, leading to an average target price of $14.29.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report)'s stock price shot up 6.4% on Wednesday . The stock traded as high as $9.15 and last traded at $9.22. 1,523,393 shares changed hands during trading, a decline of 77% from the average session volume of 6,496,345 shares. The stock had previously closed at $8.67.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup began coverage on Novavax in a research report on Tuesday, June 17th. They issued a "sell" rating and a $6.00 price target for the company. HC Wainwright initiated coverage on Novavax in a research report on Thursday, August 28th. They issued a "buy" rating and a $10.00 price objective on the stock. Finally, Bank of America reissued an "underperform" rating and issued a $7.00 target price (down previously from $9.00) on shares of Novavax in a report on Wednesday, August 20th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Novavax presently has an average rating of "Hold" and an average price target of $14.29.

Novavax Stock Up 8.7%

The company has a current ratio of 2.36, a quick ratio of 2.34 and a debt-to-equity ratio of 5.93. The stock has a market cap of $1.53 billion, a P/E ratio of 4.13, a PEG ratio of 0.11 and a beta of 2.68. The company's 50 day moving average price is $8.03 and its two-hundred day moving average price is $7.21.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.69. The business had revenue of $239.24 million during the quarter, compared to analysts' expectations of $149.19 million. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. The firm's revenue was down 42.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 earnings per share. Equities analysts forecast that Novavax, Inc. will post -1.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Park West Asset Management LLC purchased a new position in Novavax during the first quarter valued at approximately $16,210,000. Jupiter Asset Management Ltd. raised its position in shares of Novavax by 195.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 880,410 shares of the biopharmaceutical company's stock valued at $5,547,000 after purchasing an additional 582,858 shares during the period. Allianz Asset Management GmbH purchased a new position in shares of Novavax during the 2nd quarter valued at $3,382,000. Jump Financial LLC purchased a new stake in Novavax in the 1st quarter worth $3,280,000. Finally, HRT Financial LP raised its holdings in Novavax by 191.8% during the second quarter. HRT Financial LP now owns 615,649 shares of the biopharmaceutical company's stock valued at $3,878,000 after acquiring an additional 404,676 shares during the period. 53.04% of the stock is owned by hedge funds and other institutional investors.

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.

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