Novavax (NASDAQ:NVAX) Shares Gap Down – Should You Sell?

Shares of Novavax, Inc. (NASDAQ:NVAX) gapped down before the market opened on Tuesday . The stock had previously closed at $9.01, but opened at $8.05. Novavax shares last traded at $8.23, with a volume of 3,626,309 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVAX. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Novavax in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. Jefferies Financial Group decreased their price target on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, B. Riley reissued a “buy” rating and set a $26.00 price target (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.83.

Novavax Stock Down 6.2 %

The company has a 50 day moving average of $11.61 and a 200-day moving average of $12.41. The stock has a market capitalization of $1.35 billion, a P/E ratio of -3.14 and a beta of 2.10.

Institutional Investors Weigh In On Novavax

Hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise lifted its stake in Novavax by 500.0% in the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 2,500 shares during the last quarter. Amalgamated Bank lifted its stake in Novavax by 26.9% in the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 1,036 shares during the last quarter. Swedbank AB bought a new stake in Novavax in the first quarter valued at $26,000. Signaturefd LLC lifted its stake in Novavax by 214.5% in the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 3,874 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 1,598 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors.

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.