Novavax, Inc. (NASDAQ:NVAX) was down 2% on Thursday . The company traded as low as $1.01 and last traded at $1.04. Approximately 3,343,492 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 6,075,750 shares. The stock had previously closed at $1.02.

A number of equities research analysts have recently weighed in on NVAX shares. BidaskClub downgraded Novavax from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Cantor Fitzgerald reiterated a “hold” rating and issued a $2.00 price target on shares of Novavax in a report on Friday, July 21st. Piper Jaffray Companies reiterated a “hold” rating and issued a $1.50 price target on shares of Novavax in a report on Wednesday, July 26th. Zacks Investment Research downgraded Novavax from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Finally, Chardan Capital reiterated a “neutral” rating and issued a $1.50 price target on shares of Novavax in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Novavax currently has a consensus rating of “Hold” and an average target price of $3.05.

The stock’s 50-day moving average price is $1.14 and its 200-day moving average price is $1.06. The company’s market capitalization is $307.29 million.

Novavax (NASDAQ:NVAX) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.16). Novavax had a negative return on equity of 787.38% and a negative net margin of 1,006.00%. The business had revenue of $6.70 million during the quarter, compared to analysts’ expectations of $6.15 million. During the same period in the prior year, the firm posted ($0.29) EPS. Novavax’s quarterly revenue was up 168.0% compared to the same quarter last year. Equities research analysts forecast that Novavax, Inc. will post ($0.62) earnings per share for the current fiscal year.

In other news, Director James F. Young sold 175,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $1.06, for a total value of $185,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Novavax by 49.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 89,697 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 29,800 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of Novavax by 0.4% in the 2nd quarter. Profund Advisors LLC now owns 120,775 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 455 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Novavax by 18.6% in the 2nd quarter. Voya Investment Management LLC now owns 138,270 shares of the biopharmaceutical company’s stock worth $159,000 after buying an additional 21,639 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Novavax by 3.8% in the 1st quarter. HighTower Advisors LLC now owns 142,000 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 5,250 shares in the last quarter. Finally, American International Group Inc. raised its holdings in shares of Novavax by 7.1% in the 1st quarter. American International Group Inc. now owns 166,252 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 10,965 shares in the last quarter. 45.17% of the stock is owned by institutional investors and hedge funds.

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Novavax Company Profile

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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