Novavax (NASDAQ:NVAX) Sees Strong Trading Volume

Shares of Novavax, Inc. (NASDAQ:NVAX) saw unusually-high trading volume on Thursday . Approximately 2,488,216 shares were traded during mid-day trading, an increase of 201% from the previous session’s volume of 825,653 shares.The stock last traded at $6.16 and had previously closed at $5.54.

NVAX has been the subject of a number of recent research reports. Oppenheimer boosted their target price on shares of Novavax from $1.25 to $25.00 in a research report on Monday, May 13th. HC Wainwright boosted their target price on shares of Novavax from $40.00 to $42.60 and gave the company a “buy” rating in a research report on Tuesday, March 19th. B. Riley reduced their target price on shares of Novavax from $200.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Zacks Investment Research raised shares of Novavax from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald reissued a “hold” rating on shares of Novavax in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $40.00.

The company has a market capitalization of $144.59 million, a price-to-earnings ratio of -0.59 and a beta of 2.31. The stock’s 50 day moving average price is $5.83.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.20) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.40) by $0.20. The company had revenue of $3.98 million during the quarter, compared to analyst estimates of $4.80 million. During the same period last year, the firm earned ($2.80) EPS. As a group, research analysts forecast that Novavax, Inc. will post -6.47 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of NVAX. Two Sigma Investments LP raised its stake in Novavax by 223.6% in the fourth quarter. Two Sigma Investments LP now owns 3,282,564 shares of the biopharmaceutical company’s stock valued at $6,040,000 after purchasing an additional 2,268,080 shares in the last quarter. Millennium Management LLC raised its stake in Novavax by 127.8% in the fourth quarter. Millennium Management LLC now owns 2,934,275 shares of the biopharmaceutical company’s stock valued at $5,399,000 after purchasing an additional 1,645,934 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in Novavax by 86.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,537,130 shares of the biopharmaceutical company’s stock valued at $847,000 after purchasing an additional 713,752 shares in the last quarter. Two Sigma Advisers LP raised its stake in Novavax by 39.4% in the fourth quarter. Two Sigma Advisers LP now owns 1,696,849 shares of the biopharmaceutical company’s stock valued at $3,122,000 after purchasing an additional 479,387 shares in the last quarter. Finally, Sargent Investment Group LLC acquired a new position in Novavax during the fourth quarter worth about $803,000.

Novavax Company Profile (NASDAQ:NVAX)

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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