Novavax (NASDAQ:NVAX) Shares Down 3.4% – Should You Sell?

Novavax, Inc. (NASDAQ:NVAX)’s share price was down 3.4% during trading on Friday . The stock traded as low as $13.93 and last traded at $13.93. Approximately 1,960,010 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 10,272,225 shares. The stock had previously closed at $14.42.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NVAX shares. B. Riley restated a “buy” rating and issued a $23.00 price objective (down previously from $25.00) on shares of Novavax in a research report on Monday, August 12th. Jefferies Financial Group restated a “buy” rating and issued a $31.00 price objective on shares of Novavax in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Finally, Bank of America upped their target price on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Novavax has a consensus rating of “Hold” and a consensus price target of $18.33.

Novavax Stock Performance

The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -4.26 and a beta of 2.04. The company has a 50 day moving average price of $12.57 and a two-hundred day moving average price of $11.14.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.83). The company had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $458.57 million. During the same period in the prior year, the company posted $0.58 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts expect that Novavax, Inc. will post -1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Shah Capital Management raised its stake in Novavax by 19.0% in the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock valued at $122,322,000 after purchasing an additional 1,544,263 shares during the last quarter. Rafferty Asset Management LLC raised its stake in Novavax by 62.4% in the 4th quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock valued at $7,737,000 after purchasing an additional 619,370 shares during the last quarter. Coatue Management LLC acquired a new position in Novavax in the 4th quarter valued at $7,294,000. TSP Capital Management Group LLC grew its holdings in Novavax by 23.9% in the 1st quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock valued at $6,582,000 after buying an additional 265,250 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Novavax by 940.7% in the 3rd quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock valued at $14,579,000 after buying an additional 1,043,363 shares in the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.

About Novavax

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.