Novavax, Inc. (NASDAQ:NVAX - Get Free Report) shares dropped 5.7% during mid-day trading on Wednesday . The stock traded as low as $8.90 and last traded at $8.98. Approximately 2,142,419 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 4,885,543 shares. The stock had previously closed at $9.52.
Analyst Upgrades and Downgrades
NVAX has been the subject of several recent analyst reports. B. Riley reiterated a "buy" rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. HC Wainwright reiterated a "buy" rating and issued a $19.00 target price on shares of Novavax in a report on Tuesday, December 10th. Finally, Jefferies Financial Group decreased their target price on shares of Novavax from $31.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.83.
Check Out Our Latest Stock Report on NVAX
Novavax Price Performance
The stock's 50-day moving average price is $8.83 and its 200 day moving average price is $10.75.
Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts' consensus estimates of ($0.83) by $0.07. The business had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. During the same quarter in the prior year, the firm earned ($1.26) EPS. The firm's quarterly revenue was down 54.8% on a year-over-year basis. On average, sell-side analysts forecast that Novavax, Inc. will post -1.31 EPS for the current year.
Insider Activity
In other news, Director James F. Young sold 4,600 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $8.48, for a total transaction of $39,008.00. Following the completion of the transaction, the director now directly owns 57,160 shares of the company's stock, valued at $484,716.80. This trade represents a 7.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rachel K. King sold 4,150 shares of the firm's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $9.02, for a total transaction of $37,433.00. Following the completion of the transaction, the director now directly owns 14,770 shares of the company's stock, valued at $133,225.40. This represents a 21.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,150 shares of company stock valued at $119,641 in the last ninety days. 1.00% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of NVAX. Shah Capital Management boosted its holdings in Novavax by 13.6% in the fourth quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company's stock valued at $89,637,000 after acquiring an additional 1,333,305 shares during the last quarter. State Street Corp boosted its holdings in Novavax by 26.7% in the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company's stock valued at $97,099,000 after acquiring an additional 1,621,772 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Novavax by 9.5% in the third quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company's stock valued at $44,245,000 after acquiring an additional 304,159 shares during the last quarter. Bank of Montreal Can boosted its holdings in Novavax by 26.7% in the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company's stock valued at $32,643,000 after acquiring an additional 517,727 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Novavax by 48.9% in the third quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company's stock valued at $25,252,000 after acquiring an additional 656,900 shares during the last quarter. Institutional investors and hedge funds own 53.04% of the company's stock.
About Novavax
(
Get Free Report)
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.
See Also
Before you consider Novavax, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Novavax wasn't on the list.
While Novavax currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
