Novavax, Inc. (NASDAQ:NVAX)’s share price gapped down before the market opened on Monday after Cantor Fitzgerald lowered their price target on the stock from $282.00 to $174.00. The stock had previously closed at $90.44, but opened at $87.25. Novavax shares last traded at $84.65, with a volume of 19,211 shares traded.
NVAX has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price target on Novavax from $172.00 to $209.00 and gave the stock a “neutral” rating in a report on Tuesday, December 21st. Cowen started coverage on Novavax in a research note on Friday, January 21st. They set an “outperform” rating and a $150.00 price target for the company. Finally, B. Riley lifted their price target on Novavax from $305.00 to $315.00 in a research note on Tuesday, January 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $231.86.
In related news, insider Gregory M. Glenn sold 8,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 23rd. The stock was sold at an average price of $199.50, for a total value of $1,645,875.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John A. Herrmann III sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 3rd. The stock was sold at an average price of $140.91, for a total value of $704,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,211 shares of company stock worth $9,593,467. 2.10% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Chevy Chase Trust Holdings Inc. lifted its holdings in shares of Novavax by 1.5% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 5,180 shares of the biopharmaceutical company’s stock valued at $1,074,000 after acquiring an additional 75 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co lifted its holdings in shares of Novavax by 40.0% in the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 280 shares of the biopharmaceutical company’s stock valued at $58,000 after acquiring an additional 80 shares during the last quarter. Quadrant Private Wealth Management LLC lifted its stake in Novavax by 5.5% in the second quarter. Quadrant Private Wealth Management LLC now owns 1,908 shares of the biopharmaceutical company’s stock worth $405,000 after purchasing an additional 100 shares during the last quarter. Sigma Planning Corp lifted its stake in Novavax by 9.0% in the third quarter. Sigma Planning Corp now owns 1,330 shares of the biopharmaceutical company’s stock worth $276,000 after purchasing an additional 110 shares during the last quarter. Finally, Spire Wealth Management lifted its stake in Novavax by 186.7% in the fourth quarter. Spire Wealth Management now owns 172 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 48.62% of the company’s stock.
The company’s 50 day moving average price is $130.38 and its two-hundred day moving average price is $176.36. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.70. The stock has a market cap of $6.22 billion, a P/E ratio of -5.94 and a beta of 1.17.
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.