Novavax (NASDAQ:NVAX) Trading Down 6.1% - What's Next?

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) shares traded down 6.1% during trading on Tuesday . The company traded as low as $7.95 and last traded at $7.87. 1,618,096 shares were traded during mid-day trading, a decline of 80% from the average session volume of 7,998,392 shares. The stock had previously closed at $8.38.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen upgraded Novavax to a "hold" rating in a report on Thursday, February 27th. BTIG Research initiated coverage on Novavax in a research note on Friday, February 28th. They set a "buy" rating and a $19.00 price target on the stock. Finally, HC Wainwright restated a "buy" rating and set a $19.00 price target on shares of Novavax in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $18.00.

Novavax Price Performance

The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -3.36, a P/E/G ratio of 2.85 and a beta of 2.92. The stock's 50-day moving average is $8.25 and its 200 day moving average is $9.53.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) EPS for the quarter, beating analysts' consensus estimates of ($0.75) by $0.24. The firm had revenue of $88.31 million during the quarter, compared to analyst estimates of $85.48 million. During the same quarter in the previous year, the business earned ($1.44) EPS. Analysts anticipate that Novavax, Inc. will post -1.46 EPS for the current year.

Remove Ads

Insider Activity

In other news, Director James F. Young sold 5,400 shares of Novavax stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total transaction of $43,200.00. Following the completion of the sale, the director now directly owns 51,760 shares in the company, valued at approximately $414,080. This trade represents a 9.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Novavax

Hedge funds and other institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Novavax during the 4th quarter valued at approximately $27,000. Spire Wealth Management purchased a new position in shares of Novavax during the 4th quarter worth approximately $29,000. New Age Alpha Advisors LLC purchased a new position in shares of Novavax during the 4th quarter worth approximately $35,000. KBC Group NV increased its stake in shares of Novavax by 97.0% during the 4th quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company's stock worth $64,000 after purchasing an additional 3,917 shares in the last quarter. Finally, TigerOak Management L.L.C. purchased a new position in shares of Novavax during the 4th quarter worth approximately $86,000. 53.04% of the stock is currently 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.