Novavax (NASDAQ:NVAX) Stock Price Down 9.1% – Should You Sell?

Shares of Novavax, Inc. (NASDAQ:NVAX) fell 9.1% during trading on Friday. The company traded as low as $11.57 and last traded at $11.6480. Approximately 2,002,169 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 5,124,194 shares. The stock had previously closed at $12.82.

Wall Street Analysts Forecast Growth

NVAX has been the topic of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of Novavax in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Citigroup reissued a “sell” rating and issued a $8.00 price target (up from $7.00) on shares of Novavax in a report on Thursday. Finally, Zacks Research cut shares of Novavax from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Novavax presently has an average rating of “Hold” and an average price target of $13.14.

Novavax Price Performance

The stock has a market cap of $1.86 billion, a P/E ratio of -7.43 and a beta of 2.44. The business’s 50 day simple moving average is $10.00 and its 200 day simple moving average is $9.20.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.06. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%. The company had revenue of $56.70 million for the quarter, compared to analyst estimates of $52.51 million. During the same period in the prior year, the company posted $0.62 EPS. The company’s revenue was down 76.2% compared to the same quarter last year. Research analysts predict that Novavax, Inc. will post -0.38 earnings per share for the current year.

Institutional Trading of Novavax

Large investors have recently bought and sold shares of the stock. KBC Group NV increased its holdings in Novavax by 34.9% in the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 1,229 shares in the last quarter. Allworth Financial LP raised its position in Novavax by 292.5% in the second quarter. Allworth Financial LP now owns 4,353 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 3,244 shares during the last quarter. Duncker Streett & Co. Inc. raised its position in Novavax by 917.3% in the first quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 3,825 shares during the last quarter. Abel Hall LLC boosted its stake in shares of Novavax by 30.7% during the first quarter. Abel Hall LLC now owns 18,050 shares of the biopharmaceutical company’s stock valued at $147,000 after purchasing an additional 4,241 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Novavax during the second quarter valued at about $42,000. 53.04% of the stock is currently owned by institutional investors.

Novavax Company Profile

Novavax, Inc is a biotechnology company focused on the discovery, development and commercialization of vaccines. The company uses its recombinant protein-based vaccine platform and Matrix-M adjuvant technology to develop vaccines designed to stimulate targeted immune responses.

Novavax’s principal commercial product is its protein-based COVID-19 vaccine, marketed in various regions under the Nuvaxovid or Novavax COVID-19 Vaccine name. The vaccine has been authorized or approved in multiple markets, including the United States, Europe and other international jurisdictions, with availability and regulatory status varying by country.