Having fallen over 20% since the start of the new year, shares of Novavax, Inc. (NASDAQ:NVAX) are trading up 6.14% this morning in the pre-market. This comes as the company hopes for further progress with their RSV vaccine, which is currently undergoing Phase III trials. The drug showed tremendous results in Phase II trials, so if this can be replicated in the last stage, we could see the stock soar later this year.
Many investors feel as though Novavax, Inc. (NASDAQ:NVAX) shares have taken a beating that they haven’t deserved as of late. Just last week The Street’s Jim Cramer had a chance to interview Novavax CEO Stanley Erck, who said that they have vaccinated 11,850 patients last month and data is now being compiled to show how effective their vaccine is.
It should be interesting to see if NVAX shares can gain momentum and recover the losses that they’ve suffered since the beginning of the month, or if this pre-market indication is just a fluke. The stock closed at $6.51 during the last trading session. It is down 26.94% since June 12, 2015 and is downtrending. It has underperformed the S&P500 by 18.07%.
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 153.46% above today’s ($6.51) 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 increased to 2.05 in Q2 2015. It’s up 0.92, from 1.13 in 2015Q2. The ratio is positive, as 20 funds sold all their Novavax, Inc. shares they owned while 41 reduced their positions. 49 funds bought stakes while 76 increased their total positions. Institutions now own 176.88 million shares which is 2.35% less than the previous share count of 181.14 million in 2015Q2.
Parametrica Management Ltd holds 2.76% of its total portfolio in Novavax, Inc., equating to 61,882 shares. Bb Biotech Ag owns 8.33 million shares representing 1.87% of their total US portfolio. Moreover, Cormorant Asset Management Llc has 1.81% of their total portfolio invested in the company, equating to 1.60 million shares. The Florida-based Harvey Capital Management Inc has a total of 1.76% of their portfolio invested in the stock. William Harris Investors Inc, a Illinois-based fund reported 488,666 shares owned.
Since June 1, 2015, the stock had 0 insider buys, and 4 sales for a total of $883,272 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 $1.76 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).