Novavax (NASDAQ:NVAX) Trading Down 6.2% – Time to Sell?

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. B. Riley Financial reiterated a “buy” rating on shares of Novavax in a research note on Thursday, April 9th. Jefferies Financial Group restated a “buy” rating on shares of Novavax in a report on Thursday, March 12th. Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a research report on Sunday, May 31st. Weiss Ratings lowered shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, HC Wainwright boosted their price target on shares of Novavax from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Novavax presently has a consensus rating of “Hold” and a consensus price target of $12.13.

Novavax Stock Up 0.1%

The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -14.79 and a beta of 2.45. The company has a fifty day moving average price of $8.92 and a two-hundred day moving average price of $8.51.

Novavax (NASDAQ:NVAX) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.19. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The business had revenue of $118.90 million for the quarter, compared to analyst estimates of $79.81 million. During the same period last year, the firm posted $2.93 earnings per share. The company’s revenue for the quarter was down 79.0% compared to the same quarter last year. On average, equities analysts anticipate that Novavax, Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew 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 buying an additional 275,802 shares during the last quarter. Shah Capital Management raised its stake in Novavax by 2.0% during the 1st quarter. Shah Capital Management now owns 14,845,097 shares of the biopharmaceutical company’s stock valued at $120,839,000 after acquiring an additional 286,317 shares during the last quarter. State Street Corp raised its stake in Novavax by 32.3% during the 4th quarter. State Street Corp now owns 9,523,646 shares of the biopharmaceutical company’s stock valued at $63,999,000 after acquiring an additional 2,326,927 shares during the last quarter. UBS Group AG lifted its position in Novavax by 40.3% during the 4th quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock worth $32,890,000 after acquiring an additional 1,405,981 shares during the period. Finally, Bank of America Corp DE lifted its position in Novavax by 0.5% during the 3rd quarter. Bank of America Corp DE now owns 3,101,074 shares of the biopharmaceutical company’s stock worth $26,886,000 after acquiring an additional 15,685 shares during the period. Institutional investors and hedge funds own 53.04% of the company’s stock.

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.