Novavax (NASDAQ:NVAX) Stock Price Down 4.3%

Novavax, Inc. (NASDAQ:NVAX) fell 4.3% during mid-day trading on Monday . The stock traded as low as $11.46 and last traded at $11.47. 1,569,156 shares were traded during trading, a decline of 86% from the average session volume of 10,926,656 shares. The stock had previously closed at $11.99.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NVAX shares. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Novavax in a research note on Monday, May 13th. B. Riley restated a “buy” rating and issued a $23.00 price objective (down previously from $25.00) on shares of Novavax in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their target price on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Bank of America boosted their price target on Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, June 14th. Finally, TD Cowen increased their price objective on Novavax from $5.00 to $10.00 and gave the stock a “hold” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Novavax has an average rating of “Hold” and a consensus target price of $15.80.

Novavax Stock Down 4.0 %

The stock’s 50 day moving average price is $13.32 and its 200-day moving average price is $9.66. The stock has a market capitalization of $1.62 billion, a PE ratio of -3.77 and a beta of 1.99.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.83). The business had revenue of $415.50 million during the quarter, compared to analyst estimates of $458.57 million. Novavax’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS. On average, analysts forecast that Novavax, Inc. will post 0.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James F. Young sold 7,500 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $14.09, for a total transaction of $105,675.00. Following the completion of the sale, the director now directly owns 61,760 shares of the company’s stock, valued at $870,198.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by insiders.

Institutional Trading of Novavax

A number of large investors have recently modified their holdings of NVAX. Swedbank AB bought a new stake in Novavax during the 1st quarter valued at $26,000. Banque Cantonale Vaudoise increased its stake in shares of Novavax by 500.0% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 2,500 shares during the period. Herr Investment Group LLC bought a new stake in shares of Novavax in the first quarter valued at about $48,000. Alpine Global Management LLC purchased a new stake in Novavax in the first quarter worth about $49,000. Finally, Ameritas Investment Partners Inc. increased its position in Novavax by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 2,711 shares during the period. Hedge funds and other institutional investors 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.