Novavax Inc. (NASDAQ:NVAX) shares fell 4% on Tuesday . The stock traded as low as $7.29 and last traded at $7.29, with a volume of 1,916,472 shares trading hands. The stock had previously closed at $7.59.

Several research firms have weighed in on NVAX. Vetr upgraded shares of Novavax from a “buy” rating to a “strong-buy” rating and set a $8.35 price objective on the stock in a research note on Wednesday, July 13th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $14.00 target price on shares of Novavax in a research report on Wednesday, June 29th. Zacks Investment Research raised shares of Novavax from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Novavax in a research report on Thursday, June 2nd. Finally, Chardan Capital reissued a “neutral” rating on shares of Novavax in a research report on Monday, May 2nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Novavax currently has a consensus rating of “Buy” and an average target price of $12.21.

The stock’s market capitalization is $1.97 billion. The stock has a 50 day moving average of $6.91 and a 200-day moving average of $5.71.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by $0.02. The company had revenue of $4.20 million for the quarter, compared to analyst estimates of $10.39 million. Novavax’s revenue was down 57.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) earnings per share. On average, analysts anticipate that Novavax Inc. will post ($0.96) earnings per share for the current year.

In other Novavax news, Director Gary C. Evans sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $5.41, for a total transaction of $270,500.00. Following the sale, the director now directly owns 357,111 shares in the company, valued at approximately $1,931,970.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary C. Evans sold 18,998 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $6.50, for a total transaction of $123,487.00. Following the sale, the director now owns 321,979 shares in the company, valued at $2,092,863.50. The disclosure for this sale can be found here.

Other hedge funds recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in shares of Novavax by 69.4% in the fourth quarter. California Public Employees Retirement System now owns 813,000 shares of the biopharmaceutical company’s stock valued at $6,821,000 after buying an additional 333,000 shares during the period. TD Asset Management Inc. increased its stake in shares of Novavax by 7.5% in the fourth quarter. TD Asset Management Inc. now owns 576,800 shares of the biopharmaceutical company’s stock valued at $4,839,000 after buying an additional 40,000 shares during the period. California State Teachers Retirement System increased its stake in shares of Novavax by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 496,682 shares of the biopharmaceutical company’s stock valued at $4,167,000 after buying an additional 7,860 shares during the period. Tekla Capital Management LLC bought a new stake in shares of Novavax during the fourth quarter valued at approximately $3,004,000. Finally, Rhumbline Advisers increased its stake in shares of Novavax by 12.6% in the fourth quarter. Rhumbline Advisers now owns 271,881 shares of the biopharmaceutical company’s stock valued at $2,281,000 after buying an additional 30,395 shares during the period.

Novavax, Inc (Novavax) is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company through its recombinant nanoparticle vaccine technology produces vaccine candidates to respond to both known and newly emerging diseases.

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