Novavax (NASDAQ:NVAX) Sets New 12-Month High – Here’s What Happened

by · The Markets Daily

Novavax, Inc. (NASDAQ:NVAX – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $13.39 and last traded at $12.56, with a volume of 28602453 shares traded. The stock had previously closed at $10.46.

Key Stories Impacting Novavax

Here are the key news stories impacting Novavax this week:

  • Positive Sentiment: Novavax previously benefited from elevated trading activity after the Russia-related health scare, with shares reaching a new 52-week high and trading volume rising above average. However, no government contracts or purchase commitments have been announced. Novavax Surges 20.1 Percent
  • Neutral Sentiment: Options activity in NVAX was unusually high, indicating heightened speculative interest and expectations for continued volatility following the recent surge and reversal. Novavax Sees Unusually High Options Volume
  • Negative Sentiment: The World Health Organization characterized the risk of a broader plague outbreak as low or “very low.” That guidance removed the immediate catalyst behind the vaccine-sector rally and prompted investors to sell Novavax and other vaccine stocks. Novavax Sinks as WHO Calls Plague Risk Very Low
  • Negative Sentiment: Citi’s assessment of vaccine-sector volatility reinforces the view that the recent move was driven largely by headlines and short-term trading rather than fundamentals. Commentary also noted that Novavax’s current product lineup does not directly address plague, making a government-purchase thesis especially speculative. Citi Assesses Vaccine Sector Volatility

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. BTIG Research reiterated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research report on Thursday, June 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Novavax in a report on Tuesday, August 4th. Finally, Zacks Research lowered shares of Novavax from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Novavax presently has a consensus rating of “Hold” and an average price target of $14.00.

Check Out Our Latest Report on NVAX

Novavax Stock Performance

The stock has a market cap of $1.85 billion, a PE ratio of -7.38 and a beta of 2.44. The stock has a fifty day moving average price of $9.41 and a 200 day moving average price of $9.06.

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

Institutional Investors Weigh In On Novavax

Institutional investors have recently made changes to their positions in the company. KBC Group NV increased its stake in Novavax by 34.9% in the 1st 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 during the period. Allworth Financial LP boosted its position in Novavax by 292.5% in the 2nd quarter. Allworth Financial LP now owns 4,353 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 3,244 shares during the period. Duncker Streett & Co. Inc. grew its stake in Novavax by 917.3% in the 1st quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 3,825 shares in the last quarter. Abel Hall LLC grew its stake in Novavax by 30.7% in the 1st quarter. Abel Hall LLC now owns 18,050 shares of the biopharmaceutical company’s stock worth $147,000 after acquiring an additional 4,241 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Novavax in the 2nd quarter worth about $42,000. Institutional investors own 53.04% of the company’s stock.

Novavax Company Profile

(Get Free Report)

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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