Novavax (NASDAQ:NVAX) Shares Pass Above 200 Day Moving Average – Here’s Why

Novavax, Inc. (NASDAQ:NVAX) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.10 and traded as high as $11.05. Novavax shares last traded at $10.80, with a volume of 5,177,439 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVAX. JPMorgan Chase & Co. reduced their price target on shares of Novavax from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday, November 18th. HC Wainwright increased their price objective on shares of Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Jefferies Financial Group reiterated a “buy” rating on shares of Novavax in a research report on Thursday. Wall Street Zen upgraded shares of Novavax from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Novavax in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $11.88.

Novavax Stock Performance

The company has a market cap of $1.67 billion, a P/E ratio of 4.24 and a beta of 2.54. The company has a quick ratio of 2.10, a current ratio of 2.13 and a debt-to-equity ratio of 5.93. The company has a 50 day moving average price of $9.01 and a 200-day moving average price of $8.13.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.77. The business had revenue of $136.40 million for the quarter, compared to analysts’ expectations of $90.26 million. Novavax had a net margin of 39.19% and a negative return on equity of 673.17%. The company’s revenue was up 66.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) earnings per share. Equities analysts expect that Novavax, Inc. will post -1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NVAX. Vanguard Group Inc. raised its holdings in Novavax by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company’s stock worth $103,961,000 after purchasing an additional 275,802 shares in the last quarter. Shah Capital Management increased its position in shares of Novavax by 23.3% during the 4th quarter. Shah Capital Management now owns 14,558,780 shares of the biopharmaceutical company’s stock valued at $97,835,000 after purchasing an additional 2,747,000 shares during the period. State Street Corp increased its position in shares of Novavax by 32.3% during the 4th quarter. State Street Corp now owns 9,523,646 shares of the biopharmaceutical company’s stock valued at $63,999,000 after purchasing an additional 2,326,927 shares during the period. UBS Group AG raised its stake in shares of Novavax by 40.3% in the 4th quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock worth $32,890,000 after buying an additional 1,405,981 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Novavax by 0.5% in the 3rd quarter. Bank of America Corp DE now owns 3,101,074 shares of the biopharmaceutical company’s stock worth $26,886,000 after buying an additional 15,685 shares in the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.