Novavax (NASDAQ:NVAX) Shares Down 2.1%

Novavax, Inc. (NASDAQ:NVAX)’s share price dropped 2.1% during mid-day trading on Wednesday . The company traded as low as $4.65 and last traded at $4.67, approximately 770,596 shares traded hands during mid-day trading. A decline of 8% from the average daily volume of 837,313 shares. The stock had previously closed at $4.77.

A number of brokerages have commented on NVAX. Citigroup decreased their price objective on shares of Novavax from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Oppenheimer dropped their price target on Novavax from $25.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Novavax in a research note on Thursday, October 17th. Zacks Investment Research downgraded Novavax from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, B. Riley began coverage on Novavax in a report on Wednesday, November 27th. They set a “buy” rating and a $12.00 target price for the company. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $28.85.

The company has a market cap of $122.67 million, a PE ratio of -0.47 and a beta of 1.96. The stock’s 50 day simple moving average is $4.35 and its two-hundred day simple moving average is $5.20.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.98) by $0.24. The firm had revenue of $2.51 million for the quarter, compared to analysts’ expectations of $4.40 million. During the same period last year, the firm posted ($2.40) EPS. On average, equities research analysts predict that Novavax, Inc. will post -5.7 earnings per share for the current fiscal year.

In other Novavax news, CFO John Trizzino sold 5,578 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total value of $31,906.16. Following the transaction, the chief financial officer now owns 4,800 shares in the company, valued at approximately $27,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John A. Herrmann III sold 3,643 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $7.07, for a total transaction of $25,756.01. The disclosure for this sale can be found here. Insiders sold a total of 22,770 shares of company stock worth $132,123 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. State Street Corp increased its holdings in Novavax by 3.4% during the 3rd quarter. State Street Corp now owns 424,189 shares of the biopharmaceutical company’s stock worth $2,129,000 after purchasing an additional 14,066 shares during the last quarter. Creative Planning raised its position in Novavax by 16.5% in the 3rd quarter. Creative Planning now owns 92,344 shares of the biopharmaceutical company’s stock valued at $464,000 after purchasing an additional 13,101 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in shares of Novavax in the 2nd quarter valued at about $510,000. A.R.T. Advisors LLC acquired a new position in shares of Novavax during the second quarter worth about $435,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Novavax during the second quarter worth about $197,000. Institutional investors own 26.74% of the company’s stock.

Novavax Company Profile (NASDAQ:NVAX)

Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.

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