Novavax (NASDAQ:NVAX) Shares Down 2.1%

Novavax, Inc. (NASDAQ:NVAX) traded down 2.1% during trading on Wednesday . The company traded as low as $4.65 and last traded at $4.67, 770,596 shares were traded during mid-day trading. A decline of 8% from the average session volume of 837,313 shares. The stock had previously closed at $4.77.

Several research analysts recently commented on the stock. Oppenheimer reduced their price target on shares of Novavax from $25.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Zacks Investment Research cut shares of Novavax from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. LADENBURG THALM/SH SH restated a “buy” rating and issued a $27.50 target price on shares of Novavax in a research note on Friday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Novavax in a research report on Thursday, October 17th. Finally, B. Riley started coverage on shares of Novavax in a research report on Wednesday, November 27th. They set a “buy” rating and a $12.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $28.85.

The firm has a fifty day moving average of $4.34 and a two-hundred day moving average of $5.19. The stock has a market capitalization of $128.37 million, a P/E ratio of -0.46 and a beta of 1.96.

Novavax (NASDAQ:NVAX) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.98) by $0.24. The business had revenue of $2.51 million for the quarter, compared to the consensus estimate of $4.40 million. During the same quarter in the previous year, the company earned ($2.40) earnings per share. As a group, equities research analysts anticipate that Novavax, Inc. will post -5.7 earnings per share for the current fiscal year.

In other news, CFO John Trizzino sold 5,578 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total transaction of $31,906.16. Following the transaction, the chief financial officer now directly owns 4,800 shares in the company, valued at $27,456. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gregory M. Glenn sold 9,620 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.18, for a total transaction of $59,451.60. Following the transaction, the insider now owns 123 shares in the company, valued at $760.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,770 shares of company stock valued at $132,123. Company insiders own 3.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in shares of Novavax in the 2nd quarter valued at $197,000. Rhumbline Advisers grew its stake in Novavax by 10.3% in the third quarter. Rhumbline Advisers now owns 33,428 shares of the biopharmaceutical company’s stock valued at $168,000 after purchasing an additional 3,118 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Novavax by 473.7% in the third quarter. Tower Research Capital LLC TRC now owns 7,166 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 5,917 shares during the last quarter. Creative Planning grew its stake in Novavax by 16.5% in the third quarter. Creative Planning now owns 92,344 shares of the biopharmaceutical company’s stock valued at $464,000 after purchasing an additional 13,101 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new position in Novavax in the second quarter worth about $435,000. Institutional investors own 26.74% of the company’s stock.

About Novavax (NASDAQ:NVAX)

Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.

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