Novavax (NASDAQ:NVAX) Shares Down 5.5% – Time to Sell?

Novavax, Inc. (NASDAQ:NVAX)’s share price traded down 5.5% during trading on Monday . The company traded as low as $9.18 and last traded at $9.2090. 467,924 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 4,916,625 shares. The stock had previously closed at $9.74.

Wall Street Analyst Weigh In

NVAX has been the subject of a number of research reports. BTIG Research reiterated a “buy” rating and set a $19.00 price objective on shares of Novavax in a report on Thursday, June 11th. B. Riley Financial restated a “buy” rating on shares of Novavax in a research note on Thursday, April 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novavax in a research report on Thursday, March 12th. Weiss Ratings downgraded shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Finally, Zacks Research raised shares of Novavax from a “hold” rating to a “strong-buy” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.00.

Novavax Price Performance

The firm has a 50-day moving average of $9.28 and a 200 day moving average of $8.86. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -16.31 and a beta of 2.43.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.19. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.The firm had revenue of $118.90 million for the quarter, compared to analyst estimates of $79.81 million. During the same quarter in the previous year, the firm earned $2.93 EPS. The business’s quarterly revenue was down 79.0% on a year-over-year basis. On average, equities analysts forecast that Novavax, Inc. will post -0.19 earnings per share for the current year.

Institutional Trading of Novavax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Novavax in the 3rd quarter valued at about $33,000. Duncker Streett & Co. Inc. raised its holdings in shares of Novavax by 917.3% in the 1st quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 3,825 shares during the period. KBC Group NV lifted its stake in Novavax by 34.9% in the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 1,229 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in Novavax during the fourth quarter worth about $33,000. Finally, Danske Bank A S bought a new position in Novavax during the third quarter worth about $64,000. 53.04% of the stock is owned by institutional investors.

Novavax Company Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.