Novavax (NASDAQ:NVAX) Stock Price Down 5.8% – Time to Sell?

Novavax, Inc. (NASDAQ:NVAX)’s share price traded down 5.8% during mid-day trading on Monday . The stock traded as low as $7.62 and last traded at $7.80. 1,894,875 shares changed hands during trading, a decline of 79% from the average session volume of 9,078,025 shares. The stock had previously closed at $8.28.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group dropped their price objective on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Novavax in a report on Tuesday, December 10th. Finally, B. Riley reiterated a “buy” rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Novavax presently has an average rating of “Hold” and an average target price of $17.83.

Novavax Price Performance

The company’s 50 day simple moving average is $8.86 and its two-hundred day simple moving average is $11.52. The company has a market cap of $1.27 billion, a PE ratio of -3.51 and a beta of 2.02.

Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates 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. During the same quarter last year, the firm posted ($1.26) EPS. The firm’s revenue for the quarter was down 54.8% on a year-over-year basis. Sell-side analysts expect that Novavax, Inc. will post -1.44 EPS for the current fiscal year.

Institutional Trading of Novavax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. Banque Cantonale Vaudoise lifted its position in Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 2,500 shares in the last quarter. Amalgamated Bank lifted its holdings in 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 during the last quarter. Signaturefd LLC boosted its position in Novavax by 214.5% during the 2nd quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 3,874 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 1,598 shares during the last quarter. Finally, Midland Wealth Advisors LLC bought a new position in shares of Novavax during the second quarter worth about $152,000. Hedge funds and other 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.