Novavax (NASDAQ:NVAX) Shares Gap Down - Should You Sell?

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $7.03, but opened at $6.78. Novavax shares last traded at $6.78, with a volume of 1,072,648 shares traded.

Wall Street Analyst Weigh In

NVAX has been the topic of a number of analyst reports. B. Riley reiterated a "buy" rating on shares of Novavax in a research report on Monday, May 19th. TD Cowen raised shares of Novavax to a "hold" rating in a research report on Thursday, February 27th. Citigroup began coverage on shares of Novavax in a research report on Tuesday. They issued a "sell" rating and a $6.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on Novavax from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Friday, May 9th. Finally, BTIG Research assumed coverage on Novavax in a report on Friday, February 28th. They issued a "buy" rating and a $19.00 target price for the company. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Novavax presently has an average rating of "Hold" and a consensus target price of $17.00.

Novavax Trading Down 3.5%

The firm has a 50 day simple moving average of $6.72 and a two-hundred day simple moving average of $7.69. The company has a market capitalization of $1.10 billion, a PE ratio of -3.00, a P/E/G ratio of 2.85 and a beta of 2.80.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $2.22. The firm had revenue of $666.66 million for the quarter, compared to analysts' expectations of $204.08 million. The firm's quarterly revenue was up 610.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.05) EPS. Research analysts expect that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

Institutional Trading of Novavax

Institutional investors have recently modified their holdings of the business. Sanofi acquired a new stake in Novavax in the fourth quarter valued at $55,319,000. Park West Asset Management LLC acquired a new stake in shares of Novavax in the first quarter valued at about $16,210,000. Deep Track Capital LP purchased a new stake in Novavax during the fourth quarter worth about $16,080,000. Jump Financial LLC acquired a new position in Novavax during the first quarter worth about $3,280,000. Finally, BNP Paribas Financial Markets increased its holdings in Novavax by 289.0% in the fourth quarter. BNP Paribas Financial Markets now owns 556,832 shares of the biopharmaceutical company's stock valued at $4,477,000 after buying an additional 413,676 shares in the last quarter. 53.04% of the stock is currently 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.

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