Novavax (NASDAQ:NVAX) Trading Down 6.1% – Here’s What Happened

Novavax, Inc. (NASDAQ:NVAX) shares dropped 6.1% during trading on Tuesday . The stock traded as low as $7.95 and last traded at $7.87. Approximately 1,618,096 shares traded hands during trading, a decline of 80% from the average daily volume of 7,998,392 shares. The stock had previously closed at $8.38.

Wall Street Analyst Weigh In

NVAX has been the subject of several analyst reports. TD Cowen raised Novavax to a “hold” rating in a research note on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $19.00 target price on shares of Novavax in a research report on Tuesday, December 10th. Finally, BTIG Research started coverage on Novavax in a research report on Friday, February 28th. They set a “buy” rating and a $19.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Novavax presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Novavax Stock Performance

The company has a market cap of $1.26 billion, a price-to-earnings ratio of -3.46, a PEG ratio of 2.85 and a beta of 2.92. The company has a 50-day simple moving average of $8.32 and a 200-day simple moving average of $9.58.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.24. The firm had revenue of $88.31 million during the quarter, compared to analysts’ expectations of $85.48 million. During the same period in the previous year, the business earned ($1.44) earnings per share. As a group, equities research analysts forecast that Novavax, Inc. will post -1.46 EPS for the current year.

Insider Activity at Novavax

In related news, Director James F. Young sold 5,400 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $414,080. This trade represents a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Novavax

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

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.