Novavax (NASDAQ:NVAX) Shares Down 6% – What’s Next?

Novavax, Inc. (NASDAQ:NVAX) shares traded down 6% during trading on Tuesday . The stock traded as low as $8.73 and last traded at $8.76. 2,158,234 shares changed hands during trading, a decline of 78% from the average session volume of 9,628,119 shares. The stock had previously closed at $9.32.

Analyst Ratings Changes

Several research firms recently issued reports on NVAX. B. Riley reaffirmed a “buy” rating and issued a $26.00 price objective (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. HC Wainwright restated a “buy” rating and issued a $19.00 target price on shares of Novavax in a report on Tuesday, November 12th. Finally, Jefferies Financial Group lowered their price target on 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, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.83.

Novavax Stock Performance

The company has a 50-day moving average of $10.73 and a 200 day moving average of $12.66. The firm has a market cap of $1.40 billion, a P/E ratio of -4.12 and a beta of 2.10.

Novavax (NASDAQ:NVAX) last issued 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 analyst estimates of $65.80 million. The firm’s revenue for the quarter was down 54.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.26) EPS. Sell-side analysts anticipate that Novavax, Inc. will post -1.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Swedbank AB acquired a new stake in Novavax during the 1st quarter valued at $26,000. Banque Cantonale Vaudoise increased its stake in shares of Novavax by 500.0% in the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 2,500 shares in the last quarter. Amalgamated Bank lifted its position in Novavax by 26.9% during the 2nd 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. Signaturefd LLC lifted its position in Novavax by 214.5% during the 2nd quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock worth $72,000 after buying an additional 3,874 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,598 shares during the last quarter. 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.