Novavax (NASDAQ:NVAX) Trading Down 6.2% – Should You Sell?

Shares of Novavax, Inc. (NASDAQ:NVAX) fell 6.2% on Monday . The stock traded as low as $9.01 and last traded at $8.9050. 1,650,557 shares were traded during trading, a decline of 67% from the average session volume of 4,975,213 shares. The stock had previously closed at $9.49.

Analysts Set New Price Targets

NVAX has been the subject of a number of research reports. HC Wainwright lifted their price target on Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research report on Sunday, May 31st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novavax in a research report on Thursday, March 12th. Weiss Ratings cut Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, TD Cowen lifted their price target on Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.13.

Novavax Trading Down 7.5%

The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -15.19 and a beta of 2.45. The company has a fifty day moving average price of $8.92 and a 200-day moving average price of $8.48.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.19. The business had revenue of $118.90 million during the quarter, compared to analysts’ expectations of $79.81 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.The company’s revenue for the quarter was down 79.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 EPS. As a group, research analysts forecast that Novavax, Inc. will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novavax

A number of large investors have recently bought and sold shares of NVAX. AQR Capital Management LLC raised its holdings in Novavax by 95.2% in the 1st quarter. AQR Capital Management LLC now owns 44,427 shares of the biopharmaceutical company’s stock worth $285,000 after purchasing an additional 21,663 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Novavax by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company’s stock worth $678,000 after purchasing an additional 2,750 shares during the period. Caxton Associates LLP acquired a new position in Novavax in the 1st quarter worth about $158,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Novavax by 16.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 312,789 shares of the biopharmaceutical company’s stock worth $2,005,000 after purchasing an additional 44,105 shares during the period. Finally, Strs Ohio acquired a new position in Novavax in the 1st quarter worth about $167,000. Institutional investors and hedge funds own 53.04% of the company’s stock.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.