Novavax (NASDAQ:NVAX) Shares Gap Down to $14.68

Novavax, Inc. (NASDAQ:NVAX) gapped down before the market opened on Thursday . The stock had previously closed at $14.68, but opened at $14.07. Novavax shares last traded at $14.40, with a volume of 1,125,211 shares.

Wall Street Analyst Weigh In

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

Novavax Price Performance

The firm’s 50-day moving average price is $12.62 and its 200 day moving average price is $11.12. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -4.63 and a beta of 2.04.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The firm had revenue of $415.50 million for the quarter, compared to analyst estimates of $458.57 million. Novavax’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 EPS. On average, analysts predict that Novavax, Inc. will post -1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new position in shares of Novavax during the first quarter worth about $1,499,000. Shah Capital Management increased its stake in shares of Novavax by 19.0% in the second 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 period. Edgestream Partners L.P. boosted its position in shares of Novavax by 23.7% during the first quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 2,447 shares during the period. ProShare Advisors LLC grew its holdings in Novavax by 29.9% in the 1st quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 8,570 shares in the last quarter. Finally, Swiss National Bank increased its position in Novavax by 17.1% in the 1st quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock valued at $1,009,000 after acquiring an additional 30,800 shares during the period. 53.04% of the stock is currently owned by institutional investors.

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.