Analysts Set Novavax, Inc. (NASDAQ:NVAX) PT at $17.83

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $17.83.

NVAX has been the topic of several recent analyst reports. Jefferies Financial Group dropped their price objective on Novavax from $31.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. B. Riley reaffirmed a "buy" rating and set a $26.00 price objective (up from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Finally, HC Wainwright reissued a "buy" rating and issued a $19.00 target price on shares of Novavax in a report on Tuesday, December 10th.

Novavax Stock Down 1.5 %

Shares of NASDAQ NVAX traded down $0.13 during trading on Friday, reaching $8.40. The company had a trading volume of 3,225,099 shares, compared to its average volume of 3,846,862. Novavax has a 12-month low of $3.53 and a 12-month high of $23.86. The stock has a market cap of $1.35 billion, a PE ratio of -3.72 and a beta of 2.07. The business's 50-day moving average is $8.63 and its 200 day moving average is $11.03.

Novavax (NASDAQ:NVAX - Get Free Report) last released its quarterly earnings data 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 business had revenue of $84.51 million for the quarter, compared to analysts' expectations of $65.80 million. During the same period last year, the business earned ($1.26) earnings per share. The company's quarterly revenue was down 54.8% on a year-over-year basis. On average, analysts anticipate that Novavax will post -1.31 earnings per share for the current year.

Insider Buying and Selling at Novavax

In other news, Director Rachel K. King sold 4,150 shares of the firm'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. This trade represents a 21.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James F. Young sold 5,400 shares of the firm's 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 completion of the transaction, the director now directly owns 51,760 shares in the company, valued at $414,080. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,150 shares of company stock valued at $119,641. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NVAX. State Street Corp raised its stake in Novavax by 26.7% during the 3rd quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company's stock valued at $97,099,000 after purchasing an additional 1,621,772 shares during the period. Geode Capital Management LLC raised its stake in Novavax by 9.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company's stock valued at $44,245,000 after purchasing an additional 304,159 shares during the period. Bank of Montreal Can raised its stake in Novavax by 26.7% during 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. Two Sigma Advisers LP raised 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 valued at $25,252,000 after purchasing an additional 656,900 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Novavax by 16.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company's stock valued at $16,741,000 after purchasing an additional 187,548 shares during the period. 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.