Novavax, Inc. (NASDAQ:NVAX)’s share price fell 2.1% during trading on Wednesday . The stock traded as low as $4.65 and last traded at $4.67, 770,596 shares traded hands during mid-day trading. A decline of 8% from the average session volume of 837,313 shares. The stock had previously closed at $4.77.
A number of brokerages have issued reports on NVAX. Oppenheimer decreased their price target on Novavax from $25.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. B. Riley started coverage on Novavax in a report on Wednesday, November 27th. They set a “buy” rating and a $12.00 target price on the stock. LADENBURG THALM/SH SH restated a “buy” rating and issued a $27.50 target price on shares of Novavax in a research report on Friday, November 8th. HC Wainwright increased their price target on Novavax from $10.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Zacks Investment Research cut Novavax from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $28.85.
The stock has a market cap of $122.67 million, a price-to-earnings ratio of -0.47 and a beta of 1.96. The company’s 50 day simple moving average is $4.35 and its two-hundred day simple moving average is $5.20.
Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.98) by $0.24. The firm had revenue of $2.51 million for the quarter, compared to analysts’ expectations of $4.40 million. During the same quarter in the prior year, the business posted ($2.40) earnings per share. On average, analysts forecast that Novavax, Inc. will post -5.7 EPS for the current year.
In related news, SVP John A. Herrmann III sold 3,643 shares of Novavax stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $7.07, for a total value of $25,756.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Trizzino sold 5,578 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $5.72, for a total transaction of $31,906.16. Following the completion of the sale, the chief financial officer now owns 4,800 shares of the company’s stock, valued at $27,456. The disclosure for this sale can be found here. Insiders sold 22,770 shares of company stock worth $132,123 in the last 90 days. Corporate insiders own 3.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in shares of Novavax by 473.7% in the third quarter. Tower Research Capital LLC TRC now owns 7,166 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 5,917 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Novavax by 10.3% during the third quarter. Rhumbline Advisers now owns 33,428 shares of the biopharmaceutical company’s stock worth $168,000 after purchasing an additional 3,118 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Novavax during the second quarter worth about $197,000. A.R.T. Advisors LLC acquired a new position in shares of Novavax in the second quarter valued at approximately $435,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of Novavax in the second quarter valued at approximately $510,000. Institutional investors own 26.74% of the company’s stock.
About Novavax (NASDAQ:NVAX)
Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.
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