Novavax (NASDAQ:NVAX) Shares Break Above Two Hundred Day Moving Average – Here’s Why
by Scott Moore · The Cerbat GemNovavax, Inc. (NASDAQ:NVAX – Get Free Report)’s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-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.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on NVAX. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Novavax in a research report on Tuesday, August 4th. BTIG Research reissued a “buy” rating and issued a $19.00 price target on shares of Novavax in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of Novavax from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Finally, Zacks Research downgraded shares of Novavax from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.00.
Check Out Our Latest Stock Analysis on Novavax
Novavax Stock Performance
The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -6.88 and a beta of 2.44. The business has a 50 day simple moving average of $9.15 and a 200-day simple moving average of $9.04.
Novavax (NASDAQ:NVAX – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.06. The firm had revenue of $56.70 million during the quarter, compared to the consensus estimate of $52.51 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The company’s quarterly revenue was down 76.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, research analysts anticipate that Novavax, Inc. will post -0.46 earnings per share for the current year.
Institutional Investors Weigh In On Novavax
A number of institutional investors and hedge funds have recently bought and sold shares of NVAX. KBC Group NV grew its position in Novavax by 34.9% during the first quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 1,229 shares in the last quarter. Allworth Financial LP boosted its position in shares of Novavax by 292.5% during the 2nd quarter. Allworth Financial LP now owns 4,353 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 3,244 shares during the last quarter. Duncker Streett & Co. Inc. grew its holdings in shares of Novavax by 917.3% during the first quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 3,825 shares in the last quarter. Abel Hall LLC grew its holdings in shares of Novavax by 30.7% during the first quarter. Abel Hall LLC now owns 18,050 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 4,241 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Novavax in the second quarter worth approximately $42,000. 53.04% of the stock is owned by hedge funds and other institutional investors.
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.