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

Novavax, Inc. (NASDAQ:NVAX) shares traded 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.

Analyst Ratings Changes

A number of research analysts have recently commented on NVAX shares. Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a research note on Sunday, May 31st. Jefferies Financial Group restated a “buy” rating on shares of Novavax in a report on Thursday, March 12th. TD Cowen upped their price target on shares of Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. B. Riley Financial reaffirmed a “buy” rating on shares of Novavax in a research report on Thursday, April 9th. Finally, Weiss Ratings downgraded shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.00.

Novavax Stock Down 2.6%

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

Novavax (NASDAQ:NVAX) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.19. The business had revenue of $118.90 million for the quarter, compared to the consensus estimate 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 was down 79.0% on a year-over-year basis. During the same period last year, the business posted $2.93 EPS. Research analysts anticipate that Novavax, Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NVAX. Flagship Harbor Advisors LLC acquired a new stake in Novavax during the 4th quarter valued at $33,000. Quarry LP acquired a new position in Novavax in the 3rd quarter worth $33,000. Duncker Streett & Co. Inc. lifted its holdings in Novavax by 917.3% in the 1st quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 3,825 shares in the last quarter. KBC Group NV boosted its position in Novavax by 34.9% in the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 1,229 shares during the last quarter. Finally, State of Wyoming purchased a new position in Novavax in the 2nd quarter valued at about $52,000. 53.04% of the stock is owned by institutional investors and hedge funds.

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.