Novavax (NASDAQ:NVAX) Trading Down 8.2% – Here’s Why

Novavax, Inc. (NASDAQ:NVAX) fell 8.2% during mid-day trading on Wednesday . The company traded as low as $9.86 and last traded at $9.93. 1,956,021 shares were traded during trading, a decline of 69% from the average session volume of 6,373,472 shares. The stock had previously closed at $10.82.

Wall Street Analysts Forecast Growth

NVAX has been the topic of several analyst reports. B. Riley reaffirmed a “buy” rating and issued a $26.00 target price (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Novavax in a research note on Tuesday, December 10th. Finally, Jefferies Financial Group dropped their price objective on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.83.

Novavax Trading Down 10.8 %

The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -4.27 and a beta of 2.07. The firm has a fifty day simple moving average of $8.70 and a 200-day simple moving average of $11.25.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS 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. Novavax’s revenue for the quarter was down 54.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.26) earnings per share. On average, equities analysts predict that Novavax, Inc. will post -1.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Novavax news, Director James F. Young sold 5,400 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total value of $43,200.00. Following the transaction, the director now owns 51,760 shares of the company’s stock, valued at approximately $414,080. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rachel K. King sold 4,150 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $9.02, for a total value of $37,433.00. Following the transaction, the director now owns 14,770 shares of the company’s stock, valued at $133,225.40. The trade was a 21.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,150 shares of company stock valued at $119,641 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NVAX. Shah Capital Management raised its holdings in Novavax by 19.0% in the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after purchasing an additional 1,544,263 shares during the period. State Street Corp increased its holdings in shares of Novavax by 26.7% in the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after acquiring an additional 1,621,772 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Novavax by 9.5% during the third quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company’s stock worth $44,245,000 after purchasing an additional 304,159 shares during the period. Bank of Montreal Can grew its position in shares of Novavax by 26.7% in the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock valued at $32,643,000 after purchasing an additional 517,727 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Novavax by 48.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock worth $25,252,000 after purchasing an additional 656,900 shares in the last quarter. Institutional investors own 53.04% of the company’s stock.

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.