Novavax, Inc. (NASDAQ:NVAX) shares are up big in early afternoon trading today. The stock broke through a key resistance level at around $8.70 to $8.80 and has continued to climb from there. With earnings on the way and a key phase 3 clinical trial of its respiratory syncytial virus F-protein nanoparticle vaccine candidate (RSV F Vaccine) beginning recently, investors seem to be gobbling up shares over the last few trading days.
Novavax, Inc. (NASDAQ:NVAX) shares have been quite hot for a couple of weeks now. They are up significantly since Monday, November 19, when they traded as low as $7.03 per share. We will be watching for further gains over the remainder of the trading day as there is a decent short position within the stock.The stock is up 5.26% or $0.45 following the news, hitting $9 per share. About 4.09 million shares traded hands. NVAX has risen 6.48% since April 29, 2015 and is uptrending. It has outperformed the S&P500 by 6.68%.
From a total of 2 analysts covering Novavax (NASDAQ:NVAX) stock, 2 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. The highest target price is $17 while the lowest target price is $16. The mean of all analyst targets is $16.50 which is 83.33% above today’s ($9) stock price. Novavax was the topic of 2 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray maintained shares on August 11 with a “Overweight” rating.
The institutional sentiment decreased to 1.13 in Q2 2015. It’s down 0.26, from 1.39 in 2015Q1. The ratio dropped, as 22 funds sold all their Novavax, Inc. shares they owned while 48 reduced their positions. 17 funds bought stakes while 62 increased their total positions. Institutions now own 181.14 million shares which is 4.92% more than the previous share count of 172.64 million in 2015Q1.
Bb Biotech Ag holds 2.47% of its total portfolio in Novavax, Inc., equating to 8.18 million shares. Cormorant Asset Management Llc owns 1.60 million shares representing 2.37% of their total US portfolio. Moreover, Harvey Capital Management Inc has 2.25% of their total portfolio invested in the company, equating to 611,950 shares. The Massachusetts-based Ra Capital Management Llc has a total of 1.6% of their portfolio invested in the stock. William Harris Investors Inc, a Illinois-based fund reported 390,326 shares owned.
Since June 1, 2015, the stock had 0 insider purchases, and 8 selling transactions for a total of $10.30 million in net activity. Evans Gary C sold 20,000 shares worth $224,808. Phillips Barclay A sold 28,656 shares worth $374,323. Glenn Gregory M sold 15,000 shares worth $202,743. Young James F sold 50,000 shares worth $473,615. The insider Modi Rajiv I. sold 433,053 shares worth $3.90 million.
Novavax, Inc. is a clinical-stage vaccine firm engaged in the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The company has a market cap of $2.34 billion. The Firm through its recombinant nanoparticle vaccine technology produces vaccine candidates to respond to both known and newly emerging diseases. It currently has negative earnings. The Company’s product pipeline focuses on a variety of infectious diseases with vaccine candidates in clinical development for respiratory syncytial virus (RSV), seasonal influenza, pandemic influenza and the Ebola virus (EBOV).