Novavax (NASDAQ:NVAX) Trading Down 5.9%

Shares of Novavax, Inc. (NASDAQ:NVAX) traded down 5.9% during trading on Tuesday . The company traded as low as $7.00 and last traded at $6.86, 1,212,927 shares were traded during trading. An increase of 2% from the average session volume of 1,184,822 shares. The stock had previously closed at $7.29.

A number of equities analysts have commented on the stock. HC Wainwright lifted their price objective on shares of Novavax from $10.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Chardan Capital reissued a “neutral” rating and set a $7.00 target price on shares of Novavax in a research note on Friday, May 10th. Cantor Fitzgerald restated a “hold” rating on shares of Novavax in a report on Thursday, May 9th. ValuEngine upgraded Novavax from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Novavax from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Novavax currently has an average rating of “Hold” and a consensus target price of $40.70.

The stock has a market capitalization of $163.37 million, a P/E ratio of -0.67 and a beta of 2.21. The stock has a 50-day moving average price of $4.96 and a two-hundred day moving average price of $3.28.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.61) by ($0.08). The company had revenue of $3.36 million during the quarter, compared to the consensus estimate of $3.53 million. During the same quarter in the previous year, the company earned ($2.40) EPS. On average, sell-side analysts forecast that Novavax, Inc. will post -5.6 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in Novavax during the second quarter valued at approximately $197,000. Wedbush Securities Inc. boosted its position in Novavax by 102.1% during the 1st quarter. Wedbush Securities Inc. now owns 54,444 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 27,500 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Novavax during the 1st quarter valued at $40,000. A.R.T. Advisors LLC bought a new stake in Novavax during the 2nd quarter valued at $435,000. Finally, Legal & General Group Plc boosted its position in shares of Novavax by 30.9% in the 4th quarter. Legal & General Group Plc now owns 74,389 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 17,575 shares in the last quarter.

About Novavax (NASDAQ:NVAX)

Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.

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