Novavax (NASDAQ:NVAX) Stock Price Down 6.1% – Here’s Why

Novavax, Inc. (NASDAQ:NVAX)’s share price traded down 6.1% during trading on Tuesday . The stock traded as low as $7.95 and last traded at $7.87. 1,618,096 shares traded hands during trading, a decline of 80% from the average session volume of 7,998,392 shares. The stock had previously closed at $8.38.

Analyst Ratings Changes

A number of analysts have recently weighed in on NVAX shares. TD Cowen raised shares of Novavax to a “hold” rating in a research note on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Novavax in a research report on Tuesday, December 10th. Finally, BTIG Research started coverage on Novavax in a research note on Friday, February 28th. They issued a “buy” rating and a $19.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.00.

Novavax Stock Down 6.6 %

The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -3.48, a price-to-earnings-growth ratio of 2.85 and a beta of 2.92. The business has a 50-day moving average price of $8.41 and a 200-day moving average price of $9.62.

Novavax (NASDAQ:NVAX) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.24. The business had revenue of $88.31 million during the quarter, compared to analyst estimates of $85.48 million. During the same quarter in the prior year, the company earned ($1.44) EPS. As a group, sell-side analysts predict that Novavax, Inc. will post -1.46 EPS for the current year.

Insider Buying and Selling

In other Novavax news, Director James F. Young sold 5,400 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total transaction of $43,200.00. Following the transaction, the director now directly owns 51,760 shares of the company’s stock, valued at $414,080. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Novavax in the fourth quarter valued at approximately $27,000. Spire Wealth Management acquired a new position in shares of Novavax during the fourth quarter worth approximately $29,000. New Age Alpha Advisors LLC bought a new stake in shares of Novavax in the fourth quarter valued at approximately $35,000. KBC Group NV boosted its position in shares of Novavax by 97.0% in the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock valued at $64,000 after acquiring an additional 3,917 shares during the period. Finally, TigerOak Management L.L.C. acquired a new stake in shares of Novavax in the fourth quarter worth $86,000. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.