Novavax, Inc. (NASDAQ:NVAX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX) have been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $17.83.

Several research analysts have weighed in on the company. B. Riley reiterated a “buy” rating and issued a $26.00 price target (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group reduced their target price on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th.

Novavax Stock Down 1.5 %

NVAX opened at $8.40 on Friday. The firm has a market cap of $1.35 billion, a P/E ratio of -3.72 and a beta of 2.07. The business’s fifty day simple moving average is $8.63 and its 200 day simple moving average is $11.04. Novavax has a 52 week low of $3.53 and a 52 week high of $23.86.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.07. The firm had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. Novavax’s revenue for the quarter was down 54.8% on a year-over-year basis. During the same period in the prior year, the business earned ($1.26) earnings per share. As a group, equities analysts expect that Novavax will post -1.31 EPS for the current fiscal year.

Insider Transactions at Novavax

In other Novavax news, Director James F. Young sold 5,400 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total transaction of $43,200.00. Following the completion of the sale, the director now owns 51,760 shares of the company’s stock, valued at approximately $414,080. The trade was a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rachel K. King sold 4,150 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $9.02, for a total value of $37,433.00. Following the completion of the transaction, the director now owns 14,770 shares in the company, valued at approximately $133,225.40. This trade represents a 21.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,150 shares of company stock worth $119,641 in the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank increased its position in shares of Novavax by 26.9% in the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 1,036 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,598 shares during the period. US Bancorp DE boosted its position in Novavax by 3,538.8% during the 3rd quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 11,961 shares during the period. Entropy Technologies LP acquired a new stake in Novavax in the 3rd quarter valued at $158,000. Finally, Algert Global LLC purchased a new position in Novavax in the second quarter valued at about $161,000. 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.