Novavax (NASDAQ:NVAX) Reaches New 52-Week Low at $27.96

Shares of Novavax, Inc. (NASDAQ:NVAXGet Rating) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $27.96 and last traded at $28.01, with a volume of 15394 shares. The stock had previously closed at $30.41.

Wall Street Analysts Forecast Growth

NVAX has been the subject of several research analyst reports. Cowen dropped their price target on Novavax from $150.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, August 9th. Cantor Fitzgerald boosted their target price on Novavax from $146.00 to $168.00 in a research note on Wednesday, June 8th. Cowen reduced their price target on Novavax to $110.00 in a report on Monday, August 15th. Finally, B. Riley reduced their price target on Novavax from $181.00 to $171.00 in a report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Novavax has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

Novavax Trading Down 3.4 %

The company has a market cap of $2.15 billion, a PE ratio of -1.41, a P/E/G ratio of 0.11 and a beta of 1.65. The firm has a 50 day moving average of $43.36 and a two-hundred day moving average of $53.12.

Novavax (NASDAQ:NVAXGet Rating) last posted its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($6.53) earnings per share for the quarter, missing the consensus estimate of $5.51 by ($12.04). The company had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. Novavax had a negative return on equity of 572.54% and a negative net margin of 114.32%. The business’s quarterly revenue was down 37.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($4.75) EPS. On average, research analysts forecast that Novavax, Inc. will post 7.88 EPS for the current year.

Hedge Funds Weigh In On Novavax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. San Luis Wealth Advisors LLC bought a new position in Novavax in the 1st quarter valued at approximately $29,000. Rockefeller Capital Management L.P. lifted its position in Novavax by 62.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 386 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 149 shares in the last quarter. Mascoma Wealth Management LLC bought a new position in shares of Novavax during the 2nd quarter valued at $27,000. Focused Wealth Management Inc bought a new position in shares of Novavax during the 1st quarter valued at $45,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC bought a new position in shares of Novavax during the 1st quarter valued at $53,000. 42.63% of the stock is owned by institutional investors.

About Novavax

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Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.

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