Novavax, Inc. (NASDAQ:NVAX - Get Free Report) traded down 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 traded hands during mid-day trading, a decline of 69% from the average session volume of 6,373,472 shares. The stock had previously closed at $10.82.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on NVAX shares. B. Riley reaffirmed a "buy" rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. Jefferies Financial Group decreased their price target on shares of Novavax from $31.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. Finally, HC Wainwright reiterated a "buy" rating and issued a $19.00 price target on shares of Novavax in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $17.83.
Get Our Latest Stock Analysis on Novavax
Novavax Stock Performance
The business's 50 day moving average is $8.70 and its two-hundred day moving average is $11.25. The firm has a market capitalization of $1.54 billion, a PE ratio of -4.25 and a beta of 2.07.
Novavax (NASDAQ:NVAX - Get Free Report) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts' consensus estimates of ($0.83) by $0.07. The firm had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. The firm's revenue was down 54.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.26) EPS. As a group, equities research analysts predict that Novavax, Inc. will post -1.44 EPS for the current year.
Insider Transactions at Novavax
In other news, Director Rachel K. King sold 4,150 shares of Novavax stock in a transaction on 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 directly owns 14,770 shares in the company, valued at approximately $133,225.40. This trade represents a 21.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James F. Young sold 4,600 shares of Novavax stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $8.48, for a total transaction of $39,008.00. Following the completion of the transaction, the director now directly owns 57,160 shares in the company, valued at $484,716.80. This represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,150 shares of company stock valued at $119,641 over the last quarter. 1.00% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Novavax
Several institutional investors have recently added to or reduced their stakes in NVAX. Shah Capital Management boosted its position in Novavax by 19.0% during 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 in the last quarter. State Street Corp boosted 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 worth $97,099,000 after purchasing an additional 1,621,772 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Novavax by 9.5% in the third quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company's stock valued at $44,245,000 after buying an additional 304,159 shares during the last quarter. Bank of Montreal Can lifted its stake in Novavax by 26.7% in the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company's stock worth $32,643,000 after purchasing an additional 517,727 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Novavax by 48.9% in 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 buying an additional 656,900 shares in the last quarter. Institutional investors and hedge funds own 53.04% of the company's stock.
Novavax Company Profile
(
Get Free Report)
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.
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