Novavax (NASDAQ:NVAX) Reaches New 1-Year Low at $6.08

Novavax, Inc. (NASDAQ:NVAX – Get Rating) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.08 and last traded at $6.16, with a volume of 989644 shares. The stock had previously closed at $6.27.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVAX. Jefferies Financial Group began coverage on Novavax in a report on Friday, December 2nd. They issued a “hold” rating on the stock. B. Riley cut Novavax from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 1st. HC Wainwright reaffirmed a “buy” rating and set a $110.00 price target on shares of Novavax in a research report on Monday, February 13th. Finally, StockNews.com initiated coverage on Novavax in a report on Thursday. They issued a “sell” rating for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Novavax has a consensus rating of “Hold” and a consensus price target of $76.29.

Novavax Stock Performance

The company has a 50 day simple moving average of $9.84 and a 200 day simple moving average of $16.47. The company has a market capitalization of $514.43 million, a PE ratio of -0.71 and a beta of 1.78.

Novavax (NASDAQ:NVAX – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The biopharmaceutical company reported ($2.28) EPS for the quarter, missing the consensus estimate of ($0.92) by ($1.36). The business had revenue of $357.40 million during the quarter, compared to the consensus estimate of $383.14 million. During the same period in the prior year, the business posted ($11.18) EPS. The company’s quarterly revenue was up 60.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Novavax, Inc. will post -5 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Neo Ivy Capital Management acquired a new position in Novavax in the third quarter valued at approximately $37,000. Money Concepts Capital Corp acquired a new position in Novavax in the fourth quarter valued at approximately $37,000. CI Investments Inc. lifted its stake in Novavax by 1,572.8% during the fourth quarter. CI Investments Inc. now owns 3,747 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 3,523 shares in the last quarter. Credit Agricole S A lifted its stake in Novavax by 65.8% during the third quarter. Credit Agricole S A now owns 2,520 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 1,000 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Novavax by 328.3% during the fourth quarter. IFP Advisors Inc now owns 6,994 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 5,361 shares in the last quarter. 45.70% of the stock is currently owned by institutional investors and hedge funds.

About Novavax

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Novavax, Inc Is a biotechnology company, which engages in the discovery, development, and commercialization of recombinant vaccines. The company was founded in 1987 and is headquartered in Gaithersburg, MD.