Novavax (NASDAQ:NVAX) Stock Price Down 6.1% – Should You Sell?

Novavax, Inc. (NASDAQ:NVAX) shares traded down 6.1% during mid-day trading on Tuesday . The stock traded as low as $7.95 and last traded at $7.87. 1,618,096 shares changed hands during trading, a decline of 80% from the average session volume of 7,998,392 shares. The stock had previously closed at $8.38.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVAX. TD Cowen raised Novavax to a “hold” rating in a report on Thursday, February 27th. BTIG Research started coverage on shares of Novavax in a research note on Friday, February 28th. They set a “buy” rating and a $19.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Novavax in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.00.

Novavax Stock Down 6.6 %

The stock has a fifty day simple moving average of $8.41 and a 200-day simple moving average of $9.62. The company has a market capitalization of $1.26 billion, a P/E ratio of -3.48, a PEG ratio of 2.85 and a beta of 2.92.

Novavax (NASDAQ:NVAX) last released its quarterly 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 during the quarter, compared to analyst estimates of $85.48 million. During the same quarter last year, the firm earned ($1.44) earnings per share. Analysts predict that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

Insider Transactions at Novavax

In other Novavax news, Director James F. Young sold 5,400 shares of Novavax stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total value of $43,200.00. Following the completion of the transaction, the director now owns 51,760 shares in the company, valued at approximately $414,080. The trade was a 9.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Trading of Novavax

A number of hedge funds and other institutional investors have recently modified their holdings of NVAX. GF Fund Management CO. LTD. bought a new stake in shares of Novavax during the fourth quarter worth $27,000. Spire Wealth Management bought a new stake in shares of Novavax in the 4th quarter valued at $29,000. New Age Alpha Advisors LLC bought a new position in shares of Novavax during the 4th quarter valued at about $35,000. KBC Group NV grew its position in shares of Novavax by 97.0% in the 4th quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 3,917 shares during the period. Finally, TigerOak Management L.L.C. acquired a new stake in Novavax during the 4th quarter worth approximately $86,000. 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.