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

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Novavax in a research report on Tuesday, November 12th. B. Riley reissued a “buy” rating and set a $26.00 price objective (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group dropped their price objective on shares of Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.83.

Novavax Trading Down 1.5 %

The company has a 50-day simple moving average of $10.57 and a 200 day simple moving average of $12.63. The firm has a market cap of $1.38 billion, a PE ratio of -3.81 and a beta of 2.10.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.07. The firm had revenue of $84.51 million during the quarter, compared to analyst estimates of $65.80 million. During the same quarter last year, the company posted ($1.26) EPS. The company’s revenue was down 54.8% on a year-over-year basis. On average, equities analysts expect that Novavax, Inc. will post -1.4 earnings per share for the current year.

Institutional Trading of Novavax

Several institutional investors have recently bought and sold shares of NVAX. Swedbank AB purchased a new position in shares of Novavax during the 1st quarter valued at approximately $26,000. Banque Cantonale Vaudoise raised its position in Novavax by 500.0% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 2,500 shares during the period. Amalgamated Bank lifted its holdings in Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,036 shares in the last quarter. Signaturefd LLC grew its position in shares of Novavax by 214.5% in the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 3,874 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 1,598 shares during the period. 53.04% of the stock is owned by institutional investors and hedge funds.

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.