Shares of Novavax, Inc. (NASDAQ:NVAX) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $91.36.
A number of equities research analysts recently issued reports on NVAX shares. Oppenheimer lifted their price target on shares of Novavax from $19.00 to $38.50 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. BidaskClub raised shares of Novavax from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 15th. Zacks Investment Research cut shares of Novavax from a “buy” rating to a “hold” rating in a research note on Wednesday, July 1st. HC Wainwright lifted their target price on shares of Novavax from $101.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, B. Riley lifted their target price on shares of Novavax from $106.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th.
Novavax stock traded down $3.52 during trading on Friday, reaching $143.10. The company had a trading volume of 4,232,099 shares, compared to its average volume of 7,386,336. The firm’s 50-day simple moving average is $95.24 and its 200 day simple moving average is $37.96. Novavax has a 1-year low of $3.54 and a 1-year high of $154.70. The firm has a market capitalization of $8.29 billion, a PE ratio of -34.57 and a beta of 1.50.
In other news, insider Gregory M. Glenn sold 16,749 shares of Novavax stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $59.53, for a total transaction of $997,067.97. Following the transaction, the insider now owns 18,588 shares in the company, valued at approximately $1,106,543.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James F. Young purchased 1,500 shares of Novavax stock in a transaction dated Wednesday, June 3rd. The shares were bought at an average price of $48.83 per share, for a total transaction of $73,245.00. The disclosure for this purchase can be found here. 3.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. National Asset Management Inc. purchased a new stake in Novavax in the 2nd quarter valued at about $564,000. Comerica Bank purchased a new stake in Novavax in the 2nd quarter valued at about $312,000. Sigma Planning Corp purchased a new stake in Novavax in the 2nd quarter valued at about $227,000. Flagship Harbor Advisors LLC grew its position in Novavax by 36.8% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 390 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 105 shares in the last quarter. Finally, Mackay Shields LLC acquired a new position in Novavax in the 2nd quarter valued at about $2,209,000. Hedge funds and other institutional investors own 22.64% of the company’s stock.
Novavax Company Profile
Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.
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