Novavax (NASDAQ:NVAX) Trading Down 12.6%

Novavax, Inc. (NASDAQ:NVAX)’s stock price dropped 12.6% during mid-day trading on Tuesday . The company traded as low as $13.50 and last traded at $13.55. Approximately 7,783,324 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 11,307,099 shares. The stock had previously closed at $15.50.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NVAX shares. TD Cowen increased their price target on shares of Novavax from $5.00 to $10.00 and gave the company a “hold” rating in a report on Monday, May 13th. HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Novavax in a report on Monday, May 13th. JPMorgan Chase & Co. raised shares of Novavax from an “underweight” rating to a “neutral” rating in a report on Friday, May 10th. B. Riley increased their price target on shares of Novavax from $11.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, Bank of America raised shares of Novavax from an “underperform” rating to a “neutral” rating and increased their price target for the company from $4.00 to $12.00 in a report on Friday, May 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Novavax has an average rating of “Hold” and a consensus target price of $17.50.

Novavax Trading Down 7.2 %

The business’s fifty day moving average price is $6.73 and its 200 day moving average price is $5.57. The company has a market capitalization of $2.02 billion, a P/E ratio of -4.42 and a beta of 1.63.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The firm had revenue of $93.90 million for the quarter, compared to the consensus estimate of $71.32 million. During the same period last year, the firm earned ($3.41) earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts anticipate that Novavax, Inc. will post -0.61 EPS for the current year.

Insider Activity at Novavax

In other Novavax news, insider Filip Dubovsky sold 47,312 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $13.90, for a total value of $657,636.80. Following the completion of the sale, the insider now owns 38,953 shares in the company, valued at approximately $541,446.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Novavax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Novavax by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock valued at $83,633,000 after acquiring an additional 978,873 shares in the last quarter. Shah Capital Management boosted its stake in Novavax by 4.3% during the 1st quarter. Shah Capital Management now owns 8,117,827 shares of the biopharmaceutical company’s stock worth $38,803,000 after acquiring an additional 337,071 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in Novavax by 62.4% during the 4th quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock worth $7,737,000 after acquiring an additional 619,370 shares during the last quarter. Coatue Management LLC bought a new position in Novavax during the 4th quarter worth approximately $7,294,000. Finally, TSP Capital Management Group LLC boosted its stake in Novavax by 23.9% during the 1st quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock worth $6,582,000 after acquiring an additional 265,250 shares during the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

About Novavax

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.