Novavax (NASDAQ:NVAX) Shares Gap Down to $16.39

Shares of Novavax, Inc. (NASDAQ:NVAX) gapped down before the market opened on Wednesday . The stock had previously closed at $16.39, but opened at $15.77. Novavax shares last traded at $15.94, with a volume of 1,563,632 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America upped their price target on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. raised Novavax from an “underweight” rating to a “neutral” rating in a research report on Friday, May 10th. TD Cowen upped their price target on Novavax from $5.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. B. Riley upped their target price on Novavax from $11.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Novavax in a research report on Monday, May 13th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.00.

Novavax Price Performance

The company has a market capitalization of $2.34 billion, a PE ratio of -5.26 and a beta of 1.98. The firm’s fifty day simple moving average is $14.77 and its 200 day simple moving average is $8.36.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The business had revenue of $93.90 million for the quarter, compared to the consensus estimate of $71.32 million. During the same quarter last year, the firm posted ($3.41) earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts anticipate that Novavax, Inc. will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling at Novavax

In other news, Director James F. Young sold 7,500 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total transaction of $102,900.00. Following the sale, the director now directly owns 69,260 shares of the company’s stock, valued at approximately $950,247.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director James F. Young sold 7,500 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total transaction of $102,900.00. Following the sale, the director now directly owns 69,260 shares of the company’s stock, valued at approximately $950,247.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Filip Dubovsky sold 47,312 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total transaction of $657,636.80. Following the sale, the insider now directly owns 38,953 shares in the company, valued at $541,446.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,312 shares of company stock valued at $866,212. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Novavax

Several hedge funds have recently modified their holdings of the company. Swedbank AB purchased a new position in Novavax in the 1st quarter valued at about $26,000. Herr Investment Group LLC purchased a new position in Novavax in the 1st quarter valued at about $48,000. Alpine Global Management LLC purchased a new position in Novavax in the 1st quarter valued at about $49,000. Ameritas Investment Partners Inc. lifted its stake in Novavax by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 2,711 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its stake in Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 2,447 shares in the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

About Novavax

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.