Novavax (NASDAQ:NVAX) Shares Down 6% – What’s Next?

Novavax, Inc. (NASDAQ:NVAX)’s stock price traded down 6% during mid-day trading on Tuesday . The stock traded as low as $8.73 and last traded at $8.76. 2,158,234 shares changed hands during trading, a decline of 78% from the average session volume of 9,628,119 shares. The stock had previously closed at $9.32.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVAX. HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Novavax in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price objective on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. Jefferies Financial Group cut their target price on shares of Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, B. Riley reiterated a “buy” rating and set a $26.00 price target (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.83.

Novavax Trading Down 6.3 %

The company has a market capitalization of $1.40 billion, a P/E ratio of -4.12 and a beta of 2.10. The business has a 50 day moving average price of $10.73 and a 200 day moving average price of $12.66.

Novavax (NASDAQ:NVAX) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.07. The firm had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. The firm’s revenue for the quarter was down 54.8% on a year-over-year basis. During the same period in the previous year, the company posted ($1.26) EPS. On average, analysts forecast that Novavax, Inc. will post -1.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swedbank AB bought a new stake in shares of Novavax in the first quarter worth about $26,000. Banque Cantonale Vaudoise lifted its holdings in shares of Novavax by 500.0% in the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,500 shares in the last quarter. Amalgamated Bank boosted its position in shares of Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,036 shares during the period. Signaturefd LLC grew its holdings in shares of Novavax by 214.5% during the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock worth $72,000 after buying an additional 3,874 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Novavax by 38.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 1,598 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.