Novavax (NASDAQ:NVAX) Shares Down 8.2% – What’s Next?

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. B. Riley reissued a “buy” rating and issued a $26.00 price objective (up from $23.00) on shares of Novavax in a research report on Thursday, October 10th. HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Novavax in a report 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 on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Novavax has a consensus rating of “Hold” and a consensus price target of $17.83.

Novavax Stock Down 3.0 %

The company’s fifty day moving average price is $8.69 and its two-hundred day moving average price is $11.23. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -4.12 and a beta of 2.07.

Novavax (NASDAQ:NVAX) last released its earnings results 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 firm had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. During the same quarter in the previous year, the firm posted ($1.26) EPS. The company’s revenue was down 54.8% on a year-over-year basis. On average, equities research analysts predict that Novavax, Inc. will post -1.44 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James F. Young sold 4,600 shares of Novavax stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $8.48, for a total value of $39,008.00. Following the completion of the sale, the director now directly owns 57,160 shares in the company, valued at approximately $484,716.80. The trade was a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rachel K. King sold 4,150 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $9.02, for a total value of $37,433.00. Following the sale, the director now owns 14,770 shares of the company’s stock, valued at approximately $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 have sold 14,150 shares of company stock valued at $119,641 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Novavax

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVAX. Amalgamated Bank increased its holdings in shares of Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,036 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Novavax by 38.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,598 shares in the last quarter. US Bancorp DE raised its position in Novavax by 3,538.8% in the third quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company’s stock valued at $155,000 after purchasing an additional 11,961 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Novavax during the third quarter valued at about $158,000. Finally, Algert Global LLC bought a new stake in shares of Novavax during the second quarter worth about $161,000. 53.04% of the stock is currently owned by institutional investors.

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.