Novavax (NASDAQ:NVAX) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Novavax shares rose above their 200-day moving average of $9.04, reaching $10.86 before closing at $10.46 on volume of about 4 million shares.
• Analyst sentiment remains mixed: five analysts rate the stock Buy, two Hold and two Sell, resulting in an overall Hold rating and a consensus price target of $14.00.
• Novavax exceeded quarterly EPS and revenue estimates, but revenue fell 76.2% year over year and the company posted a negative net margin, underscoring ongoing financial challenges.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $9.04 and traded as high as $10.86. Novavax shares last traded at $10.46, with a volume of 4,023,008 shares changing hands.

Analyst Ratings Changes

NVAX has been the subject of several research analyst reports. Zacks Research cut shares of Novavax from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a "sell (d)" rating on shares of Novavax in a research report on Tuesday, August 4th. Wall Street Zen raised Novavax from a "sell" rating to a "hold" rating in a research note on Saturday, September 12th. Finally, BTIG Research restated a "buy" rating and set a $19.00 target price on shares of Novavax in a research report on Thursday, June 11th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $14.00.

Novavax Stock Performance

The firm's 50-day simple moving average is $9.15 and its 200 day simple moving average is $9.04. The company has a market cap of $1.73 billion, a P/E ratio of -6.88 and a beta of 2.44.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.06. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The business had revenue of $56.70 million for the quarter, compared to analyst estimates of $52.51 million. During the same period last year, the company earned $0.62 EPS. The firm's revenue was down 76.2% on a year-over-year basis. As a group, research analysts forecast that Novavax, Inc. will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. Bank of New York Mellon Corp acquired a new stake in shares of Novavax in the 2nd quarter valued at approximately $8,004,000. Edgestream Partners L.P. acquired a new position in Novavax during the first quarter valued at approximately $4,234,000. Renaissance Technologies LLC acquired a new position in Novavax during the first quarter valued at approximately $4,049,000. Assenagon Asset Management S.A. acquired a new position in Novavax during the first quarter valued at approximately $2,969,000. Finally, Shah Capital Management increased its stake in Novavax by 2.0% in the first quarter. Shah Capital Management now owns 14,845,097 shares of the biopharmaceutical company's stock valued at $120,839,000 after purchasing an additional 286,317 shares in the last quarter. Institutional investors own 53.04% of the company's stock.

About Novavax

Novavax, Inc is a biotechnology company focused on the discovery, development and commercialization of vaccines. The company uses its recombinant protein-based vaccine platform and Matrix-M adjuvant technology to develop vaccines designed to stimulate targeted immune responses.

Novavax's principal commercial product is its protein-based COVID-19 vaccine, marketed in various regions under the Nuvaxovid or Novavax COVID-19 Vaccine name. The vaccine has been authorized or approved in multiple markets, including the United States, Europe and other international jurisdictions, with availability and regulatory status varying by country.

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