Novavax (NASDAQ:NVAX) Shares Gap Down to $258.77

Novavax, Inc. (NASDAQ:NVAX) shares gapped down before the market opened on Friday . The stock had previously closed at $258.77, but opened at $248.50. Novavax shares last traded at $248.00, with a volume of 42,774 shares trading hands.

Several research firms have recently issued reports on NVAX. Zacks Investment Research raised Novavax from a “sell” rating to a “hold” rating and set a $246.00 target price on the stock in a research note on Thursday, August 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $161.00 price target (down from $285.00) on shares of Novavax in a research note on Tuesday, May 18th. Cantor Fitzgerald upped their price target on Novavax from $217.00 to $272.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 15th. Finally, Chardan Capital reaffirmed a “neutral” rating on shares of Novavax in a research note on Wednesday, September 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $249.00.

The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $217.99 and a 200 day simple moving average of $199.18. The firm has a market capitalization of $18.48 billion, a P/E ratio of -18.87 and a beta of 1.60.

Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, August 5th. The biopharmaceutical company reported ($4.75) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.63) by ($1.12). Novavax had a negative return on equity of 150.88% and a negative net margin of 80.37%. The company had revenue of $298.02 million during the quarter, compared to the consensus estimate of $370.80 million. During the same period last year, the firm posted ($0.30) earnings per share. As a group, equities analysts expect that Novavax, Inc. will post -8.06 earnings per share for the current fiscal year.

In other news, insider Gregory M. Glenn sold 5,654 shares of the company’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $179.45, for a total transaction of $1,014,610.30. Following the transaction, the insider now directly owns 3,361 shares of the company’s stock, valued at $603,131.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John A. Herrmann III sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $247.97, for a total value of $1,239,850.00. The disclosure for this sale can be found here. Insiders sold 84,064 shares of company stock worth $17,972,046 over the last three months. Corporate insiders own 2.10% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Novavax by 13.2% during the second quarter. Vanguard Group Inc. now owns 6,670,660 shares of the biopharmaceutical company’s stock valued at $1,416,249,000 after acquiring an additional 777,356 shares during the last quarter. State Street Corp increased its position in Novavax by 17.4% during the second quarter. State Street Corp now owns 1,693,390 shares of the biopharmaceutical company’s stock valued at $359,524,000 after acquiring an additional 251,437 shares during the last quarter. Franklin Resources Inc. increased its position in Novavax by 2.1% during the first quarter. Franklin Resources Inc. now owns 1,305,410 shares of the biopharmaceutical company’s stock valued at $236,684,000 after acquiring an additional 27,121 shares during the last quarter. Geode Capital Management LLC increased its position in Novavax by 15.6% during the first quarter. Geode Capital Management LLC now owns 1,108,007 shares of the biopharmaceutical company’s stock valued at $200,892,000 after acquiring an additional 149,698 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Novavax by 137.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 822,768 shares of the biopharmaceutical company’s stock valued at $149,176,000 after acquiring an additional 476,750 shares during the last quarter. Institutional investors own 53.72% of the company’s stock.

Novavax Company Profile (NASDAQ:NVAX)

Novavax, Inc focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It provides vaccines for COVID-19, seasonal flu, respiratory syncytial virus, Ebola, and Middle East respiratory syndrome. The company was founded in 1987 and is headquartered in Gaithersburg, MD.

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