Novavax (NASDAQ:NVAX) Shares Down 6.3%

Shares of Novavax, Inc. (NASDAQ:NVAX) fell 6.3% on Monday . The company traded as low as $15.95 and last traded at $16.03. 3,106,612 shares changed hands during trading, a decline of 73% from the average session volume of 11,547,852 shares. The stock had previously closed at $17.11.

Analyst Ratings Changes

A number of brokerages have commented on NVAX. JPMorgan Chase & Co. upgraded shares of Novavax from an “underweight” rating to a “neutral” rating in a research note on Friday, May 10th. Bank of America raised their price target on shares of Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Novavax in a research note on Monday, May 13th. TD Cowen raised their price target on shares of Novavax from $5.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Finally, B. Riley raised their price target on shares of Novavax from $11.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Novavax has a consensus rating of “Hold” and a consensus target price of $19.00.

Novavax Price Performance

The business’s 50 day moving average price is $14.86 and its 200-day moving average price is $8.49. The company has a market cap of $2.31 billion, a P/E ratio of -5.05 and a beta of 1.99.

Novavax (NASDAQ:NVAX) last posted its earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The firm had revenue of $93.90 million for the quarter, compared to the consensus estimate of $71.32 million. During the same period in the prior year, the business earned ($3.41) EPS. The company’s revenue was up 15.9% compared to the same quarter last year. As a group, research analysts forecast that Novavax, Inc. will post 0.49 EPS for the current year.

Insider Buying and Selling

In related news, insider Filip Dubovsky sold 47,312 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were 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 in the company, valued at approximately $541,446.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Novavax news, insider Filip Dubovsky sold 47,312 shares of Novavax stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $13.90, for a total transaction of $657,636.80. Following the completion of the sale, the insider now owns 38,953 shares of the company’s stock, valued at approximately $541,446.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James F. Young sold 7,500 shares of Novavax stock in a transaction on Friday, June 21st. The stock was sold at an average price of $14.09, for a total transaction of $105,675.00. Following the sale, the director now directly owns 61,760 shares of the company’s stock, valued at approximately $870,198.40. The disclosure for this sale can be found here. Insiders sold 62,312 shares of company stock worth $866,212 in the last quarter. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Novavax

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Novavax by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock worth $83,633,000 after purchasing an additional 978,873 shares during the period. SG Americas Securities LLC acquired a new position in shares of Novavax during the 4th quarter worth approximately $824,000. China Universal Asset Management Co. Ltd. grew its position in shares of Novavax by 467.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 11,319 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Novavax by 31.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,314 shares of the biopharmaceutical company’s stock worth $477,000 after purchasing an additional 23,715 shares in the last quarter. Finally, Strs Ohio grew its position in shares of Novavax by 24.5% during the 4th quarter. Strs Ohio now owns 100,200 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 19,700 shares in the last quarter. Institutional investors and hedge funds 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.