BofA Securities slashes price target on Novavax Inc. [NVAX] – find out why.


Novavax Inc. [NASDAQ: NVAX] traded at a high on 06/06/22, posting a 6.21 gain after which it closed the day’ session at $47.54. The company report on May 9, 2022 that Novavax Reports First Quarter 2022 Financial Results and Operational Highlights.

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Achieved revenue of $704 million and net income of $203 million highlighting the first profitable quarter as a commercial stage company.

Reiterating full year 2022 total revenue guidance of between $4 and $5 billion.

The results of the trading session contributed to over 7565811 shares changing hands. Over the past one week, the price volatility of Novavax Inc. stands at 12.82% while the volatility over the past one month is 13.39%.

The market cap for NVAX stock reached $4.64 billion, with 76.46 million shares outstanding and 75.90 million shares in the current float. Compared to the average trading volume of 4.99M shares, NVAX reached a trading volume of 7565811 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Novavax Inc. [NVAX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVAX shares is $151.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NVAX stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Novavax Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 20, 2022. While these analysts kept the previous recommendation, B. Riley Securities dropped their target price from $315 to $265. The new note on the price target was released on February 23, 2022, representing the official price target for Novavax Inc. stock. Previously, the target price had yet another raise to $198, while Jefferies analysts kept a Buy rating on NVAX stock.

The Average True Range (ATR) for Novavax Inc. is set at 6.69, with the Price to Sales ratio for NVAX stock in the period of the last 12 months amounting to 3.31. The Price to Book ratio for the last quarter was 55.93.

How has NVAX stock performed recently?

Novavax Inc. [NVAX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.02. With this latest performance, NVAX shares dropped by -18.96% in over the last four-week period, additionally sinking by -70.38% over the last 6 months – not to mention a drop of -75.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NVAX stock in for the last two-week period is set at 44.73, with the RSI for the last a single of trading hit 43.99, and the three-weeks RSI is set at 44.43 for Novavax Inc. [NVAX]. The present Moving Average for the last 50 days of trading for this stock 56.20, while it was recorded at 51.45 for the last single week of trading, and 129.30 for the last 200 days.

Novavax Inc. [NVAX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Novavax Inc. [NVAX] shares currently have an operating margin of -147.13 and a Gross Margin at +98.90. Novavax Inc.’s Net Margin is presently recorded at -152.12.

Return on Equity for this stock declined to -1,265.72, with Return on Assets sitting at -83.85.

Novavax Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Earnings analysis for Novavax Inc. [NVAX]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NVAX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Novavax Inc. go to 0.00%.

Insider trade positions for Novavax Inc. [NVAX]

There are presently around $1,528 million, or 43.80% of NVAX stock, in the hands of institutional investors. The top three institutional holders of NVAX stocks are: VANGUARD GROUP INC with ownership of 6,966,943, which is approximately 1.014% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 4,515,805 shares of the stock with an approximate value of $202.13 million in NVAX stocks shares; and STATE STREET CORP, currently with $111.7 million in NVAX stock with ownership of nearly 31.398% of the company’s market capitalization.

211 institutional holders increased their position in Novavax Inc. [NASDAQ:NVAX] by around 6,263,039 shares. Additionally, 211 investors decreased positions by around 6,215,795 shares, while 69 investors held positions by with 21,657,032 shares. The mentioned changes placed institutional holdings at 34,135,866 shares, according to the latest SEC report filing. NVAX stock had 65 new institutional investments in for a total of 2,322,241 shares, while 105 institutional investors sold positions of 777,227 shares during the same period.