Novavax Inc. (NASDAQ:NVAX) shares traded down 5.5% on Wednesday . The company traded as low as $6.97 and last traded at $6.99, with a volume of 8,199,253 shares trading hands. The stock had previously closed at $7.40.

A number of brokerages recently weighed in on NVAX. Vetr raised shares of Novavax from a “buy” rating to a “strong-buy” rating and set a $8.66 target price on the stock in a research note on Tuesday. Chardan Capital reissued a “hold” rating and issued a $5.75 target price on shares of Novavax in a research note on Sunday, August 14th. FBR & Co set a $17.00 target price on shares of Novavax and gave the stock a “buy” rating in a research note on Thursday, August 11th. Zacks Investment Research lowered shares of Novavax from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Finally, Citigroup Inc. raised their target price on shares of Novavax from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $11.15.

The stock has a 50 day moving average price of $7.38 and a 200 day moving average price of $5.96. The stock’s market capitalization is $1.89 billion.

Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.04. During the same period in the previous year, the business earned ($0.08) EPS. The business had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $8.03 million. The firm’s revenue was down 82.1% on a year-over-year basis. Analysts forecast that Novavax Inc. will post ($1.07) earnings per share for the current fiscal year.

In other Novavax news, Director Gary C. Evans sold 18,998 shares of Novavax stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $6.50, for a total value of $123,487.00. Following the completion of the sale, the director now directly owns 321,979 shares in the company, valued at $2,092,863.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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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