Novavax (NASDAQ:NVAX) Sees Large Volume Increase – Here’s Why

Shares of Novavax, Inc. (NASDAQ:NVAX) saw unusually-strong trading volume on Tuesday . Approximately 3,015,795 shares traded hands during trading, a decline of 34% from the previous session’s volume of 4,539,189 shares.The stock last traded at $11.13 and had previously closed at $9.76.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVAX shares. Jefferies Financial Group reduced their price objective on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. B. Riley reiterated a “buy” rating and issued a $26.00 price objective (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Novavax in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.83.

Novavax Stock Down 11.3 %

The business has a fifty day simple moving average of $8.69 and a two-hundred day simple moving average of $11.24. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -4.25 and a beta of 2.07.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.07. The firm had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. The business’s quarterly revenue was down 54.8% on a year-over-year basis. During the same period in the previous year, the business posted ($1.26) EPS. As a group, equities analysts predict that Novavax, Inc. will post -1.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Novavax news, Director James F. Young sold 4,600 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $8.48, for a total value of $39,008.00. Following the transaction, the director now directly owns 57,160 shares in the company, valued at approximately $484,716.80. This trade represents a 7.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rachel K. King sold 4,150 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $9.02, for a total value of $37,433.00. Following the sale, the director now owns 14,770 shares of the company’s stock, valued at approximately $133,225.40. The trade was a 21.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,150 shares of company stock worth $119,641 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Amalgamated Bank raised its stake in shares of Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,036 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,598 shares during the period. US Bancorp DE raised its position in shares of Novavax by 3,538.8% during the 3rd quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 11,961 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Novavax in the 3rd quarter worth $158,000. Finally, Algert Global LLC acquired a new stake in shares of Novavax during the second quarter worth $161,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.