Novavax, Inc. (NASDAQ:NVAX) Most Promising Medical Research Stock, Shayne Heffernan Says
A mix of legacy drug makers and small startups have stepped forward with plans to develop vaccines or treatments that target the infection caused by the novel coronavirus.
Novavax
Ticker: NASDAQ:NVAX
Price: $44.96
Novavax Inc. US:NVAX, a preclinical biotechnology company, announced Feb. 26 that it had several vaccine candidates in preclinical animal studies. By April 8, the company said it had identified a COVID-19 vaccine candidate, and it plans to initiate a Phase I clinical study in mid-May. The first phase of the placebo-controlled study will enroll 130 healthy adults; the first round of data from that study is expected in July.
In March the company said it had received $4 million from CEPI to develop a COVID-19 vaccine and that Emergent BioSolutions Inc. would support contract development and manufacturing for the experimental vaccine.
Year-to-date stock performance: Its stock has gained 334.4%.
Business Summary
Novavax, Inc. is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants.
The Company operates through developing recombinant vaccines segment.
The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.
The Company’s product pipeline focuses on a range of infectious diseases with vaccine candidates in clinical development for respiratory syncytial virus (RSV), seasonal influenza, pandemic influenza and the Ebola virus (EBOV).
The Company’s lead adjuvant for human applications, Matrix-M, is in a Phase I/II clinical trial for pandemic influenza H7N9 vaccine candidate. It is also testing Matrix-M in conjunction with its EBOV vaccine.
Phase I clinical trial. It is developing additional pre-clinical stage programs in a range of infectious diseases, including Middle East respiratory syndrome (MERS).
Novavax Inc. just scored even more support for its coronavirus vaccine program.
The Gaithersburg company said late Thursday it won a Department of Defense contract worth up to $60 million to help manufacture its Covid-19 vaccine candidate, NVX‑CoV2373. The funding, from the Defense Health Program, would back the production of multiple pieces of the vaccine, to be manufactured in the U.S., according to Novavax’s (NASDAQ: NVAX) announcement.
The deal covers 10 million doses this year, which could be used in its phase 2 and phase 3 clinical trials — or, if the Food and Drug Administration approves it, under Emergency Use Authorization, Novavax said.
Shayne Heffernan Trade Idea
“If you must invest with the medical research industry for an immunisation our bet would be the Matrix-M in partnership with the Bill Gates Foundation will probably see the most positive financial outcome. Our current price target of Novavax will come in around $51.80 which will give the stock a price increase of +15.21%.”
Price Performance
Relative Valuation
Technical Indicators
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 56.41.
The projected lower bound is: 34.74.
The projected closing price is: 45.57.
Candlesticks
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.
Momentum Indicators
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 41.0072. This is not an overbought or oversold reading. The last signal was a buy 9 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 56.59. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 6 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -53. This is not a topping or bottoming area. The last signal was a sell 14 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 9 period(s) ago.
Rex Takasugi – TD Profile
NOVAVAX INC closed down -0.970 at 44.960. Volume was 75% below average (consolidating) and Bollinger Bands were 10% wider than normal.
Open High Low Close Volume 46.170 46.445 44.390 44.960 2,308,720
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 46.42 30.19 12.25 Volatility: 121 204 188 Volume: 6,707,059 9,715,987 5,369,335
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
NOVAVAX INC is currently 267.1% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.
Our volume indicators reflect moderate flows of volume into NVAX.O (mildly bullish). Our trend forecasting oscillators are currently bullish on NVAX.O and have had this outlook for the last 21 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of the NASDAQ Stock Market.
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Sources:
Novavax Company Website
Thomson Reuters Metastock and Eikon financial tools
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