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

Novavax, Inc. (NASDAQ:NVAX) shares 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 traded.

Analysts Set New Price Targets

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

Novavax Trading Down 6.0 %

The firm has a 50-day moving average of $14.68 and a 200 day moving average of $8.25. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -5.02 and a beta of 1.98.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The company had revenue of $93.90 million for the quarter, compared to analyst estimates of $71.32 million. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($3.41) earnings per share. Equities research analysts predict that Novavax, Inc. will post 0.49 EPS for the current fiscal year.

Insider Activity at Novavax

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

Hedge Funds Weigh In On Novavax

A number of institutional investors have recently modified their holdings of the company. Baader Bank Aktiengesellschaft acquired a new position in Novavax in the 2nd quarter valued at $216,000. Farallon Capital Management LLC bought a new stake in Novavax during the first quarter valued at about $5,406,000. Swedbank AB acquired a new stake in shares of Novavax in the first quarter valued at about $26,000. Tidal Investments LLC bought a new position in shares of Novavax in the first quarter worth about $172,000. Finally, California State Teachers Retirement System lifted its position in shares of Novavax by 11.3% during the 1st quarter. California State Teachers Retirement System now owns 107,511 shares of the biopharmaceutical company’s stock worth $514,000 after purchasing an additional 10,949 shares during the last quarter. Institutional investors own 53.04% of the company’s stock.

Novavax Company Profile

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.