Novavax (NASDAQ:NVAX) Trading Down 4.3% – Here’s What Happened

Novavax, Inc. (NASDAQ:NVAX) was down 4.3% during trading on Thursday . The stock traded as low as $5.98 and last traded at $5.94. Approximately 536,667 shares changed hands during trading, a decline of 93% from the average daily volume of 8,184,635 shares. The stock had previously closed at $6.20.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NVAX shares. TD Cowen upgraded shares of Novavax to a “hold” rating in a report on Thursday, February 27th. BTIG Research assumed coverage on Novavax in a report on Friday, February 28th. They issued a “buy” rating and a $19.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Novavax Stock Performance

The company has a 50-day moving average of $7.27 and a 200-day moving average of $8.63. The stock has a market capitalization of $965.06 million, a price-to-earnings ratio of -2.65, a P/E/G ratio of 2.85 and a beta of 3.15.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.24. The company had revenue of $88.31 million for the quarter, compared to analyst estimates of $85.48 million. During the same period in the previous year, the business earned ($1.44) EPS. As a group, analysts expect that Novavax, Inc. will post -1.46 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

Several institutional investors and hedge funds have recently modified their holdings of NVAX. GF Fund Management CO. LTD. acquired a new position in Novavax in the 4th quarter valued at $27,000. Spire Wealth Management purchased a new position in Novavax during the fourth quarter worth about $29,000. New Age Alpha Advisors LLC purchased a new position in Novavax during the fourth quarter worth about $35,000. KBC Group NV boosted its stake in Novavax by 97.0% in the 4th quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 3,917 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Novavax by 2,272.5% during the 1st quarter. GAMMA Investing LLC now owns 11,839 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 11,340 shares during the last quarter. Hedge funds and other institutional investors 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.