Novavax (NASDAQ:NVAX) Stock Price Down 8.2% – Time to Sell?

Novavax, Inc. (NASDAQ:NVAX) shares fell 8.2% during mid-day trading on Wednesday . The company traded as low as $9.86 and last traded at $9.93. 1,956,021 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 6,373,472 shares. The stock had previously closed at $10.82.

Analyst Ratings Changes

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

Novavax Stock Performance

The company’s 50 day moving average price is $8.70 and its 200 day moving average price is $11.25. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -4.27 and a beta of 2.07.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. The company had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. During the same period in the prior year, the company posted ($1.26) EPS. The business’s revenue was down 54.8% on a year-over-year basis. On average, equities research analysts forecast that Novavax, Inc. will post -1.44 EPS for the current fiscal year.

Insider Transactions at Novavax

In other news, Director Rachel K. King sold 4,150 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $9.02, for a total value of $37,433.00. Following the completion of the sale, the director now directly owns 14,770 shares of the company’s stock, valued at approximately $133,225.40. This represents a 21.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James F. Young sold 5,400 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total transaction of $43,200.00. Following the transaction, the director now directly owns 51,760 shares in the company, valued at $414,080. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,150 shares of company stock worth $119,641. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Novavax

Large investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its stake in shares of Novavax by 26.9% in the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,036 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,598 shares during the period. US Bancorp DE boosted its position in shares of Novavax by 3,538.8% during the 3rd quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 11,961 shares in the last quarter. Entropy Technologies LP acquired a new position in Novavax in the third quarter worth about $158,000. Finally, Algert Global LLC bought a new position in Novavax during the second quarter worth about $161,000. Institutional investors and hedge funds own 53.04% of the company’s stock.

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.