RA Capital Management LLC recently announced the acquisition of new stake in Novavax Inc. (NASDAQ:NVAX). This fresh investment now brings its stake to 8.21% valued currently at $680.99 million. In addition, The Vanguard Group, Inc. raised its holdings by 2.52 million to 4.52 million shares. And BlackRock Fund Advisors has lifted its position by 54.67% or 1.33 million shares – to 3.75 million shares.
With over 8.45 million Novavax Inc. (NVAX) shares trading Monday and a closing price of $119.26 on the day, the dollar volume was approximately $1.01 billion. The shares have shown a negative weekly performance of -23.32% and its price on 08/24/20 lost nearly -13.34%. Currently, there are 58.62M common shares owned by the public and among those 55.24M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for NVAX have a consensus price objective of $227.60. The analysts have set the share’s price value over the next 12 months at a high of $290.00 and a low of $105.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Novavax Inc. stock is 2.70 for the next 12 months. The average price target is 47.6% above its last price level and an upside to the estimated low will see the stock lose -13.58% over that period. But an upside of 58.88% will see the stock hit the forecast high price target while mean target price for the stock is $257.00.
Insiders at the company have transacted a total of 72 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 38 of these insider trades were purchases, accounting for 221,344 shares. Insider sales of the common stock occurred on 34 occasions, with total insider shares sold totaling 225,990 shares.
The top 3 mutual fund holders in Novavax Inc. are Vanguard Total Stock Market Index, SPDR S&P Biotech ETF, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 1.7 million shares of the company’s stock, all valued at over $242.8 million. The company sold 6805.0 shares recently to bring their total holdings to about 2.93% of the shares outstanding. SPDR S&P Biotech ETF sold 12768.0 shares to see its total holdings shrink to 1.27 million shares valued at over $182.39 million and representing 2.20% of the shares outstanding. iShares Russell 2000 ETF sold 56168.0 shares to bring its total holdings to over 1.2 million shares at a value of $171.92 million. iShares Russell 2000 ETF now owns shares totaling to 2.07% of the shares outstanding.
Shares of Novavax Inc. (NASDAQ: NVAX) opened at $131.56, down -$6.06 from a prior closing price of $137.62. However, the script later closed the day at $119.26, down -13.34%. The company’s stock has a 5-day price change of -23.32% and 147.58% over the past three months. NVAX shares are trading 2896.48% year to date (YTD), with the 12-month market performance up to 1812.75% higher. It has a 12-month low price of $3.54 and touched a high of $189.40 over the same period. Currently, 8.45 million shares have been traded, compared to an average intraday trading volume of 8.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -20.74%, 2.85%, and 197.38% respectively.
Institutional ownership of Novavax Inc. (NASDAQ: NVAX) shares accounts for 53.00% of the company’s 58.62M shares outstanding. Mutual fund holders own 23.83%, while other institutional holders and individual stakeholders account for 31.33% and 0.26% respectively.
It has a market capitalization of $7.60B and a beta (3y monthly) value of 1.69. The earnings-per-share (ttm) stands at -$2.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.13% over the week and 10.29% over the month.
Analysts forecast that Novavax Inc. (NVAX) will achieve an EPS of $1.83 for the current quarter, $7.4 for the next quarter and $21.75 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.73 while analysts give the company a high EPS estimate of $8.22. Comparatively, EPS for the current quarter was -$0.74 a year ago. Earnings per share for the fiscal year are expected to increase by 44.90%, and 139.45% over the next financial year. EPS should shrink at an annualized rate of 0.00% over the next five years, compared to 5.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Novavax Inc. (NVAX) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 2 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NVAX, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on August 06, 2020, with the firm’s price target at $132-$290. JP Morgan coverage for the Novavax Inc. (NVAX) stock in a research note released on August 05, 2020 offered a Overweight rating with a price target of $275. Ladenburg Thalmann was of a view on August 05, 2020 that the stock is Sell, while H.C. Wainwright gave the stock Buy rating on July 16, 2020, issuing a price target of $101- $132. Ladenburg Thalmann on their part issued Neutral rating on July 08, 2020.