Shares of Novavax, Inc. (NVAX) Up Big Due to Speculation


The pharmaceutical space seems to be picking up as of late, with several smaller companies jumping on speculation and news. Today isnt any different as shares of Novavax, Inc. (NASDAQ:NVAX) are up big among other small and mid-cap pharma stocks.

On Wednesday shares breached their 50-day moving average in a very bullish manner, and today breached the multi-month resistance level of $8.25 per share.

Shareholders hope that this will be the spark needed to take shares out of their recent trading range.The stock is up 6.34% or $0.5 after the positive news, hitting $8.3 per share. About 1.02M shares traded hands. NVAX has declined 5.10% since April 27, 2015 and is downtrending. It has underperformed by 4.21% the S&P500.

Out of 2 analysts covering Novavax (NASDAQ:NVAX), 2 rate it “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $17 is the highest target while $16 is the lowest. The $16.50 average target is 98.80% above today’s ($8.3) stock price. Novavax was the topic in 2 analyst reports since August 11, 2015 according to StockzIntelligence Inc. Piper Jaffray maintained the stock on August 11 with “Overweight” rating.

The institutional sentiment decreased to 1.13 in Q2 2015. Its down 0.26, from 1.39 in 2015Q1. The ratio worsened, as 22 funds sold all Novavax, Inc. shares owned while 48 reduced positions. 17 funds bought stakes while 62 increased positions. They now own 181.14 million shares or 4.92% more from 172.64 million shares in 2015Q1.

Bb Biotech Ag holds 2.47% of its portfolio in Novavax, Inc. for 8.18 million shares. Cormorant Asset Management Llc owns 1.60 million shares or 2.37% of their US portfolio. Moreover, Harvey Capital Management Inc has 2.25% invested in the company for 611,950 shares. The Massachusetts-based Ra Capital Management Llc has invested 1.6% in the stock. William Harris Investors Inc, a Illinois-based fund reported 390,326 shares.

Since June 1, 2015, the stock had 0 buys, and 10 sales for $19.30 million 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 $3.90M.

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 $2.24 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).