Novavax (NASDAQ:NVAX) Reaches New 12-Month Low - Here's Why

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.24 and last traded at $6.67, with a volume of 5219771 shares changing hands. The stock had previously closed at $6.42.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TD Cowen raised Novavax to a "hold" rating in a research report on Thursday, February 27th. BTIG Research started coverage on Novavax in a 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $18.00.

Novavax Stock Performance

The stock has a 50-day moving average price of $7.01 and a 200 day moving average price of $8.16. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -2.84, a PEG ratio of 2.85 and a beta of 3.15.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.24. The business had revenue of $88.31 million during the quarter, compared to analyst estimates of $85.48 million. During the same period in the previous year, the business posted ($1.44) earnings per share. Equities research analysts anticipate that Novavax, Inc. will post -1.46 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. GF Fund Management CO. LTD. acquired a new position in shares of Novavax during the 4th quarter worth about $27,000. Spire Wealth Management acquired a new position in shares of Novavax during the fourth quarter valued at approximately $29,000. New Age Alpha Advisors LLC purchased a new position in shares of Novavax in the fourth quarter valued at approximately $35,000. KBC Group NV lifted its position in shares of 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 in the last quarter. Finally, TigerOak Management L.L.C. acquired a new stake in shares of Novavax in the fourth quarter worth approximately $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.