Novavax (NASDAQ:NVAX) Shares Gap Down – Should You Sell?

Shares of Novavax, Inc. (NASDAQ:NVAX) gapped down prior to trading on Monday . The stock had previously closed at $7.00, but opened at $6.49. Novavax shares last traded at $6.56, with a volume of 1,039,722 shares trading hands.

Analyst Ratings Changes

Several brokerages have commented on NVAX. HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research note on Tuesday, December 10th. BTIG Research began coverage on shares of Novavax in a report on Friday, February 28th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, TD Cowen upgraded Novavax to a “hold” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.00.

Novavax Price Performance

The business’s 50 day moving average price is $8.04 and its 200 day moving average price is $9.23. The firm has a market cap of $965.06 million, a PE ratio of -2.65, a PEG ratio of 2.85 and a beta of 2.92.

Novavax (NASDAQ:NVAX) last announced its earnings results 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 firm 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 company earned ($1.44) EPS. As a group, analysts predict that Novavax, Inc. will post -1.46 earnings per share for the current year.

Institutional Investors Weigh In On Novavax

Large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new position in Novavax during the fourth quarter worth $27,000. Spire Wealth Management acquired a new stake in shares of Novavax during the 4th quarter worth approximately $29,000. New Age Alpha Advisors LLC purchased a new stake in shares of Novavax during the 4th quarter valued at approximately $35,000. KBC Group NV lifted its holdings in Novavax by 97.0% in the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock valued at $64,000 after acquiring an additional 3,917 shares during the last quarter. Finally, TigerOak Management L.L.C. purchased a new position in Novavax in the fourth quarter worth approximately $86,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

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.