Novavax, Inc. (NVAX) Stock Rating Lowered by BidaskClub
Novavax, Inc. (NASDAQ:NVAX) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Novavax from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research note on Saturday, June 10th. Piper Jaffray Companies reiterated a “hold” rating and set a $1.50 price target on shares of Novavax in a research note on Wednesday, July 26th. Cantor Fitzgerald reiterated a “hold” rating and set a $2.00 price target on shares of Novavax in a research note on Friday, July 21st. Chardan Capital reiterated a “neutral” rating and set a $1.50 price target on shares of Novavax in a research note on Thursday, July 27th. Finally, ValuEngine cut Novavax from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $5.61.
Shares of Novavax (NASDAQ NVAX) opened at 1.01 on Friday. Novavax has a 12-month low of $0.73 and a 12-month high of $8.49. The company has a 50 day moving average of $1.17 and a 200-day moving average of $1.17. The firm’s market cap is $285.42 million.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.02. Novavax had a negative net margin of 1,466.36% and a negative return on equity of 787.38%. The firm had revenue of $5.68 million for the quarter, compared to the consensus estimate of $6.17 million. During the same quarter in the previous year, the company earned ($0.29) earnings per share. The business’s revenue was up 34.6% compared to the same quarter last year. Equities research analysts forecast that Novavax will post ($0.61) EPS for the current fiscal year.
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In related news, insider Stanley C. Erck acquired 50,000 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was bought at an average cost of $0.84 per share, with a total value of $42,000.00. Following the completion of the acquisition, the insider now owns 128,279 shares in the company, valued at $107,754.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have acquired 107,057 shares of company stock valued at $92,631. Company insiders own 4.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. Renaissance Technologies LLC acquired a new position in Novavax during the fourth quarter worth about $544,000. Metropolitan Life Insurance Co. NY boosted its position in Novavax by 2.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 203,996 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 5,704 shares in the last quarter. Norges Bank acquired a new position in Novavax during the fourth quarter worth about $3,300,000. Teachers Advisors LLC boosted its position in Novavax by 4.2% in the fourth quarter. Teachers Advisors LLC now owns 455,686 shares of the biopharmaceutical company’s stock worth $574,000 after buying an additional 18,519 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Novavax by 2.7% in the first quarter. Wells Fargo & Company MN now owns 343,714 shares of the biopharmaceutical company’s stock worth $440,000 after buying an additional 8,966 shares in the last quarter. 50.16% of the stock is owned by institutional investors and hedge funds.
Novavax, Inc 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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