Novavax (NASDAQ:NVAX) Upgraded by TD Cowen to “Hold” Rating

TD Cowen upgraded shares of Novavax (NASDAQ:NVAX) to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Several other research analysts also recently commented on NVAX. HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research report on Tuesday, December 10th. BTIG Research began coverage on Novavax in a research note on Friday. They issued a “buy” rating and a $19.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Novavax presently has an average rating of “Hold” and an average price target of $18.00.

Novavax Stock Performance

Shares of NASDAQ NVAX opened at $8.33 on Thursday. The stock has a market capitalization of $1.33 billion, a P/E ratio of -3.69, a PEG ratio of 2.85 and a beta of 2.14. The stock’s fifty day moving average is $8.52 and its 200 day moving average is $10.00. Novavax has a 52 week low of $3.81 and a 52 week high of $23.86.

Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.24. The firm had revenue of $88.31 million during the quarter, compared to the consensus estimate of $85.48 million. During the same period in the prior year, the business earned ($1.44) earnings per share. Equities research analysts forecast that Novavax will post -1.46 earnings per share for the current year.

Insider Buying and Selling at Novavax

In other Novavax news, Director James F. Young sold 5,400 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total value of $43,200.00. Following the completion of the transaction, the director now owns 51,760 shares of the company’s stock, valued at $414,080. This represents a 9.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rachel K. King sold 4,150 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $133,225.40. This trade represents a 21.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,150 shares of company stock worth $119,641 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Novavax

Several hedge funds have recently added to or reduced their stakes in the business. E Fund Management Co. Ltd. increased its position in Novavax by 5.1% in the 4th quarter. E Fund Management Co. Ltd. now owns 25,340 shares of the biopharmaceutical company’s stock valued at $204,000 after acquiring an additional 1,219 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,598 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Novavax by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company’s stock valued at $3,509,000 after purchasing an additional 1,664 shares during the period. Victory Capital Management Inc. increased its holdings in Novavax by 12.0% in the third quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 2,072 shares during the period. Finally, Federated Hermes Inc. raised its position in Novavax by 4.4% during the 4th quarter. Federated Hermes Inc. now owns 50,506 shares of the biopharmaceutical company’s stock worth $406,000 after purchasing an additional 2,124 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors and hedge funds.

About Novavax

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.