Novavax (NASDAQ:NVAX) Trading Down 6.8% – Time to Sell?

Novavax, Inc. (NASDAQ:NVAX) traded down 6.8% on Thursday . The stock traded as low as $8.27 and last traded at $8.1950. 1,095,138 shares were traded during trading, a decline of 76% from the average session volume of 4,602,906 shares. The stock had previously closed at $8.79.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVAX. BTIG Research reaffirmed a “buy” rating and set a $19.00 price objective on shares of Novavax in a report on Thursday, June 11th. Zacks Research lowered shares of Novavax from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. TD Cowen boosted 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. Wall Street Zen downgraded shares of Novavax from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Novavax in a research report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Novavax currently has an average rating of “Hold” and a consensus target price of $14.00.

Novavax Price Performance

The business has a 50-day simple moving average of $8.48 and a 200-day simple moving average of $8.91. The firm has a market capitalization of $1.47 billion, a PE ratio of -5.88 and a beta of 2.46.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.06. The business had revenue of $56.70 million during the quarter, compared to analyst estimates of $52.51 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The company’s revenue for the quarter was down 76.2% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. On average, research analysts expect that Novavax, Inc. will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NVAX. State Street Corp increased its position in Novavax by 32.3% during the fourth 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 holdings in shares of Novavax by 40.3% in 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 last quarter. Bank of New York Mellon Corp bought a new stake in shares of Novavax in the 2nd quarter worth about $8,004,000. Monaco Asset Management SAM lifted its holdings in shares of Novavax by 161.3% in the 4th quarter. Monaco Asset Management SAM now owns 1,045,000 shares of the biopharmaceutical company’s stock worth $7,022,000 after acquiring an additional 645,000 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Novavax by 108.8% during the 4th quarter. Barclays PLC now owns 1,102,300 shares of the biopharmaceutical company’s stock worth $7,407,000 after purchasing an additional 574,263 shares during the period. 53.04% of the stock is owned by hedge funds and other 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.