Novavax (NASDAQ:NVAX) Trading Down 8.8%

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) shares fell 8.8% on Friday . The stock traded as low as $13.10 and last traded at $13.13. 4,980,582 shares changed hands during trading, a decline of 54% from the average session volume of 10,883,817 shares. The stock had previously closed at $14.40.

Wall Street Analyst Weigh In

Several research analysts have commented on NVAX shares. Bank of America raised Novavax from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $4.00 to $12.00 in a research note on Friday, May 10th. JPMorgan Chase & Co. raised Novavax from an "underweight" rating to a "neutral" rating in a research note on Friday, May 10th. TD Cowen boosted their target price on Novavax from $5.00 to $10.00 and gave the stock a "hold" rating in a research note on Monday. Finally, HC Wainwright reissued a "buy" rating and set a $19.00 target price on shares of Novavax in a research note on Monday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Novavax has a consensus rating of "Hold" and an average price target of $14.00.

Novavax Stock Down 9.7 %

The company has a 50 day moving average price of $5.36 and a 200-day moving average price of $5.20. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -4.10 and a beta of 1.63.

Novavax (NASDAQ:NVAX - Get Free Report) last released its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The firm had revenue of $93.90 million during the quarter, compared to the consensus estimate of $71.32 million. During the same period in the prior year, the company earned ($3.41) earnings per share. Novavax's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, analysts forecast that Novavax, Inc. will post -0.61 EPS for the current fiscal year.

Insider Activity

In other news, insider Filip Dubovsky sold 47,312 shares of the company's stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total value of $657,636.80. Following the completion of the transaction, the insider now owns 38,953 shares of the company's stock, valued at $541,446.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by insiders.

Institutional Trading of Novavax

Several institutional investors have recently added to or reduced their stakes in the stock. Herr Investment Group LLC bought a new position in shares of Novavax in the 1st quarter worth $48,000. Alpine Global Management LLC bought a new position in shares of Novavax in the 1st quarter worth $49,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Novavax by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company's stock worth $54,000 after purchasing an additional 2,711 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company's stock worth $61,000 after purchasing an additional 2,447 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Novavax by 467.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company's stock valued at $66,000 after buying an additional 11,319 shares during the last quarter. 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.