Novavax (NASDAQ:NVAX) Stock Price Down 5.5% – What’s Next?

Novavax, Inc. (NASDAQ:NVAX)’s stock price was down 5.5% during trading on Monday . The stock traded as low as $9.18 and last traded at $9.2090. Approximately 467,924 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 4,916,625 shares. The stock had previously closed at $9.74.

Analysts Set New Price Targets

NVAX has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Novavax in a report on Thursday, March 12th. TD Cowen lifted their price objective on Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research report on Sunday, May 31st. B. Riley Financial reiterated a “buy” rating on shares of Novavax in a research note on Thursday, April 9th. Finally, Weiss Ratings downgraded shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Novavax presently has a consensus rating of “Hold” and an average target price of $13.00.

Novavax Stock Down 2.6%

The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -16.25 and a beta of 2.43. The stock has a 50 day moving average of $9.23 and a 200 day moving average of $8.82.

Novavax (NASDAQ:NVAX) last announced 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. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.The firm had revenue of $118.90 million for the quarter, compared to analysts’ expectations of $79.81 million. During the same quarter in the prior year, the firm posted $2.93 earnings per share. Novavax’s revenue for the quarter was down 79.0% compared to the same quarter last year. Analysts predict that Novavax, Inc. will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On Novavax

A number of institutional investors have recently made changes to their positions in the company. Shah Capital Management boosted its holdings in Novavax by 23.3% in the fourth quarter. Shah Capital Management now owns 14,558,780 shares of the biopharmaceutical company’s stock worth $97,835,000 after purchasing an additional 2,747,000 shares during the period. Farallon Capital Management LLC increased its stake in Novavax by 4,775.0% during the third quarter. Farallon Capital Management LLC now owns 780,000 shares of the biopharmaceutical company’s stock valued at $6,763,000 after purchasing an additional 764,000 shares during the last quarter. UBS Group AG raised its holdings in shares of Novavax by 40.3% during the fourth quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock worth $32,890,000 after purchasing an additional 1,405,981 shares during the period. Vanguard Group Inc. raised its holdings in shares of Novavax by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company’s stock worth $103,961,000 after purchasing an additional 275,802 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Novavax by 107.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 199,106 shares of the biopharmaceutical company’s stock worth $1,338,000 after buying an additional 102,945 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors.

Novavax Company Profile

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.