Novavax (NASDAQ:NVAX) Trading Down 20.9% – What’s Next?

Novavax, Inc. (NASDAQ:NVAX) traded down 20.9% during mid-day trading on Thursday . The company traded as low as $5.01 and last traded at $5.34. 6,703,629 shares were traded during trading, a decline of 18% from the average session volume of 8,127,572 shares. The stock had previously closed at $6.75.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BTIG Research started coverage on Novavax in a research report on Friday, February 28th. They set a “buy” rating and a $19.00 price target on the stock. TD Cowen raised Novavax to a “hold” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Novavax currently has an average rating of “Hold” and a consensus target price of $18.00.

Novavax Stock Performance

The stock has a market cap of $835.91 million, a PE ratio of -2.30, a price-to-earnings-growth ratio of 2.85 and a beta of 3.15. The company has a 50 day moving average of $7.59 and a two-hundred day moving average of $8.92.

Novavax (NASDAQ:NVAX) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.24. The business 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) earnings per share. As a group, equities research analysts anticipate that Novavax, Inc. will post -1.46 EPS for the current year.

Hedge Funds Weigh In On Novavax

Hedge funds have recently made changes to their positions in the company. Sanofi purchased a new position in shares of Novavax in the fourth quarter worth about $55,319,000. Deep Track Capital LP acquired a new position in shares of Novavax during the 4th quarter worth approximately $16,080,000. State Street Corp grew its position in shares of Novavax by 26.7% in the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock valued at $97,099,000 after purchasing an additional 1,621,772 shares in the last quarter. Shah Capital Management increased its holdings in shares of Novavax by 13.6% in the fourth quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company’s stock valued at $89,637,000 after purchasing an additional 1,333,305 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Novavax by 289.0% during the fourth quarter. BNP Paribas Financial Markets now owns 556,832 shares of the biopharmaceutical company’s stock worth $4,477,000 after buying an additional 413,676 shares in the last quarter. Institutional investors and hedge funds 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.