Novavax (NASDAQ:NVAX) Stock Price Down 3.8%

Novavax, Inc. (NASDAQ:NVAX) shares were down 3.8% during trading on Wednesday . The company traded as low as $12.44 and last traded at $12.48. Approximately 3,139,939 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 12,082,772 shares. The stock had previously closed at $12.97.

Analyst Ratings Changes

A number of analysts have recently commented on NVAX shares. TD Cowen boosted their price objective on Novavax from $5.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Bank of America lifted their target price on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, June 14th. JPMorgan Chase & Co. upgraded Novavax from an “underweight” rating to a “neutral” rating in a report on Friday, May 10th. HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Novavax in a research note on Monday, May 13th. Finally, B. Riley increased their target price on Novavax from $11.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.00.

Novavax Trading Down 3.2 %

The stock has a fifty day moving average of $12.33 and a two-hundred day moving average of $7.32.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The business had revenue of $93.90 million during the quarter, compared to analysts’ expectations of $71.32 million. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned ($3.41) EPS. Equities analysts anticipate that Novavax, Inc. will post 0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Novavax

In other news, Director James F. Young sold 7,500 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $13.72, for a total value of $102,900.00. Following the transaction, the director now directly owns 69,260 shares in the company, valued at approximately $950,247.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Novavax news, insider Filip Dubovsky sold 47,312 shares of Novavax stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total transaction of $657,636.80. Following the transaction, the insider now directly owns 38,953 shares in the company, valued at $541,446.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James F. Young sold 7,500 shares of Novavax stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total value of $102,900.00. Following the completion of the sale, the director now directly owns 69,260 shares in the company, valued at approximately $950,247.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,312 shares of company stock worth $866,212. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Novavax

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Novavax by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock worth $83,633,000 after acquiring an additional 978,873 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Novavax by 467.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company’s stock valued at $66,000 after purchasing an additional 11,319 shares during the period. Shah Capital Management raised its holdings in shares of Novavax by 22.9% during the fourth quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock valued at $37,348,000 after purchasing an additional 1,450,000 shares during the period. SG Americas Securities LLC acquired a new position in shares of Novavax during the fourth quarter valued at about $824,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Novavax by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 703,350 shares of the biopharmaceutical company’s stock worth $5,092,000 after acquiring an additional 51,274 shares during the last quarter. Institutional investors own 53.04% of the company’s stock.

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.