Novavax, Inc. [NVAX] Stock trading around $5.29 per share: What’s Next?

Novavax, Inc. [NASDAQ: NVAX] stock went on an upward path that rose over 8.40% on Friday, amounting to a one-week price increase of more than 23.02%. The company report on February 22, 2024 at 6:00 AM that Novavax and Gavi Reach Settlement on 2021 COVID-19 Vaccine Advance Purchase Agreement.

Novavax, Inc. (Nasdaq: NVAX) and Gavi, the Vaccine Alliance (Gavi) today announced they have reached a settlement related to the 2021 Advance Purchase Agreement (APA) for Novavax’s prototype COVID-19 vaccine (NVX-CoV2373). This agreement brings the pending arbitration related to the APA to a close.

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“Novavax is pleased to have reached this agreement with Gavi as it gives us the ability to continue to work together toward our shared mission of ensuring equitable access to safe and effective vaccines,” said John C. Jacobs, President and Chief Executive Officer, Novavax. “We look forward to a long-term partnership with Gavi to provide continued access to our protein-based non-mRNA COVID-19 vaccine.”.

Over the last 12 months, NVAX stock dropped by -41.87%. The one-year Novavax, Inc. stock forecast points to a potential upside of 72.45. The average equity rating for NVAX stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $628.40 million, with 118.79 million shares outstanding and 111.93 million shares in the current float. Compared to the average trading volume of 8.20M shares, NVAX stock reached a trading volume of 18358311 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Novavax, Inc. [NVAX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVAX shares is $19.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NVAX stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for Novavax, Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 09, 2023. While these analysts kept the previous recommendation, TD Cowen dropped their target price from $55 to $10. The new note on the price target was released on April 20, 2023, representing the official price target for Novavax, Inc. stock. Previously, the target price had yet another drop from $29 to $10, while B. Riley Securities kept a Neutral rating on NVAX stock. On January 09, 2023, analysts decreased their price target for NVAX shares from 74 to 37.

The Average True Range (ATR) for Novavax, Inc. is set at 0.36, with the Price to Sales ratio for NVAX stock in the period of the last 12 months amounting to 0.60.

NVAX Stock Performance Analysis:

Novavax, Inc. [NVAX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.02. With this latest performance, NVAX shares gained by 30.62% in over the last four-week period, additionally sinking by -41.29% over the last 6 months – not to mention a drop of -41.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NVAX stock in for the last two-week period is set at 67.94, with the RSI for the last a single of trading hit 75.41, and the three-weeks RSI is set at 61.63 for Novavax, Inc. [NVAX]. The present Moving Average for the last 50 days of trading for this stock 4.53, while it was recorded at 4.49 for the last single week of trading, and 6.67 for the last 200 days.

Insight into Novavax, Inc. Fundamentals:

Novavax, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.64 and a Current Ratio set at 0.69.

NVAX Stock EPS

With the latest financial reports released by the company, Novavax, Inc. posted -2.28/share EPS, while the average EPS was predicted by analysts to be reported at -0.92/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -147.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NVAX.

Novavax, Inc. [NVAX] Institutonal Ownership Details

The top three institutional holders of NVAX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NVAX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NVAX stock with ownership which is approximately 5.8325%.