Novavax (NASDAQ:NVAX) Shares Gap Down to $12.29

Novavax, Inc. (NASDAQ:NVAX) gapped down prior to trading on Thursday . The stock had previously closed at $12.29, but opened at $11.75. Novavax shares last traded at $11.22, with a volume of 1,118,062 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. B. Riley reissued a “buy” rating and issued a $23.00 price target (down previously from $25.00) on shares of Novavax in a report on Monday, August 12th. Finally, Bank of America lifted their price objective on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.80.

Novavax Price Performance

The stock’s fifty day moving average is $12.94 and its 200-day moving average is $10.33. The stock has a market capitalization of $1.66 billion, a P/E ratio of -3.62 and a beta of 2.04.

Novavax (NASDAQ:NVAX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share 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 business posted $0.58 EPS. The business’s revenue was down 2.1% on a year-over-year basis. On average, research analysts expect that Novavax, Inc. will post -1.04 EPS for the current year.

Insider Transactions at Novavax

In other news, Director James F. Young sold 7,500 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $14.09, for a total value of $105,675.00. Following the completion of the sale, the director now directly owns 61,760 shares of the company’s stock, valued at $870,198.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Novavax

Several hedge funds have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC bought a new position in Novavax during the first quarter valued at about $1,499,000. Edgestream Partners L.P. grew its holdings in shares of Novavax by 23.7% during the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 2,447 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Novavax by 29.9% during the first quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 8,570 shares during the period. Swiss National Bank increased its position in shares of Novavax by 17.1% during the first quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock valued at $1,009,000 after purchasing an additional 30,800 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Novavax by 45.9% in the fourth quarter. Allianz Asset Management GmbH now owns 634,692 shares of the biopharmaceutical company’s stock valued at $3,047,000 after purchasing an additional 199,771 shares in the last quarter. Institutional investors own 53.04% of the company’s stock.

Novavax Company Profile

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.