Novavax Inc. (NVAX) Trading Down 2.1%
Shares of Novavax Inc. (NASDAQ:NVAX) dropped 2.1% during trading on Tuesday . The company traded as low as $7.03 and last traded at $7.06, with a volume of 1,803,594 shares. The stock had previously closed at $7.21.
NVAX has been the subject of a number of research analyst reports. Vetr upgraded Novavax from a “buy” rating to a “strong-buy” rating and set a $8.66 price objective for the company in a report on Tuesday, August 23rd. Guggenheim restated a “buy” rating and set a $25.00 price objective on shares of Novavax in a report on Monday. Citigroup Inc. upped their price objective on Novavax from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Chardan Capital restated a “hold” rating and set a $5.75 price objective on shares of Novavax in a report on Sunday, August 14th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $14.00 price objective on shares of Novavax in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $12.68.
The company’s market capitalization is $1.84 billion. The stock’s 50 day moving average is $7.30 and its 200 day moving average is $6.05.
Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.04. The company had revenue of $2.50 million for the quarter, compared to analyst estimates of $8.03 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The firm’s revenue for the quarter was down 82.1% compared to the same quarter last year. Analysts anticipate that Novavax Inc. will post ($1.07) earnings per share for the current year.
In other Novavax news, Director Gary C. Evans sold 18,998 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $6.50, for a total value of $123,487.00. Following the transaction, the director now directly owns 321,979 shares in the company, valued at $2,092,863.50. The transaction was disclosed in a document filed with the SEC, which is available through this link.
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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