Novavax (NASDAQ:NVAX) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of Novavax (NASDAQ:NVAX) from a hold rating to a sell rating in a research report released on Monday morning.

NVAX has been the subject of several other reports. B. Riley upgraded shares of Novavax from a neutral rating to a buy rating and set a $15.00 target price for the company in a report on Wednesday, August 9th. HC Wainwright reissued a buy rating and set a $35.00 target price on shares of Novavax in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $25.00.

Novavax Price Performance

NVAX stock opened at $5.83 on Monday. Novavax has a 12 month low of $5.61 and a 12 month high of $21.34. The firm has a 50 day simple moving average of $7.06 and a 200 day simple moving average of $7.60.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.82) by $0.56. The company had revenue of $187.00 million for the quarter, compared to the consensus estimate of $171.04 million. During the same period in the prior year, the business earned ($2.15) earnings per share. The business’s revenue was down 74.5% compared to the same quarter last year. As a group, research analysts expect that Novavax will post -3.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Novavax

Institutional investors have recently modified their holdings of the stock. ING Groep NV acquired a new stake in shares of Novavax in the 1st quarter valued at $26,000. US Bancorp DE boosted its stake in Novavax by 126.1% during the 1st quarter. US Bancorp DE now owns 4,940 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 2,755 shares during the period. Metropolitan Life Insurance Co NY bought a new stake in shares of Novavax in the second quarter valued at approximately $35,000. Money Concepts Capital Corp bought a new stake in shares of Novavax in the fourth quarter valued at about $37,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Novavax by 205.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 3,900 shares during the period. Institutional investors and hedge funds own 71.46% 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.