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

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Novavax Inc. [NASDAQ: NVAX] loss -10.68% on the last trading session, reaching $36.28 price per share at the time. The company report on June 13, 2022 that Novavax COVID-19 Vaccine Nuvaxovid™ Provisionally Registered in Australia as a Booster in Individuals Aged 18 and Over.


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In Australia, Nuvaxovid™ is the first protein-based COVID-19 vaccine registered for use as a booster regardless of previous vaccine history.

Novavax, Inc. (NASDAQ: NVAX), a biotechnology company dedicated to developing and commercializing next-generation vaccines for serious infectious diseases, today announced that the Australian Therapeutic Goods Administration (TGA) has granted provisional registration of Nuvaxovid™ (NVX-CoV2373) COVID-19 vaccine as a booster in individuals aged 18 and over.

Novavax Inc. represents 76.46 million in outstanding shares, while the company has a total market value of $2.89 billion with the latest information. NVAX stock price has been found in the range of $34.88 to $40.20.

If compared to the average trading volume of 5.75M shares, NVAX reached a trading volume of 7251474 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $155.17 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 6.67, with the Price to Sales ratio for NVAX stock in the period of the last 12 months amounting to 2.06. The Price to Book ratio for the last quarter was 42.68.

Trading performance analysis for NVAX stock

Novavax Inc. [NVAX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.95. With this latest performance, NVAX shares dropped by -15.47% in over the last four-week period, additionally sinking by -79.55% over the last 6 months – not to mention a drop of -82.70% 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 36.34, with the RSI for the last a single of trading hit 32.02, and the three-weeks RSI is set at 38.42 for Novavax Inc. [NVAX]. The present Moving Average for the last 50 days of trading for this stock 53.54, while it was recorded at 43.21 for the last single week of trading, and 125.37 for the last 200 days.

Novavax Inc. [NVAX]: A deeper dive into fundamental analysis

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.

Novavax Inc. [NVAX]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Novavax Inc. [NVAX]

There are presently around $1,386 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 $183.43 million in NVAX stocks shares; and STATE STREET CORP, currently with $101.37 million in NVAX stock with ownership of nearly 31.398% of the company’s market capitalization.

Positions in Novavax Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 210 institutional holders increased their position in Novavax Inc. [NASDAQ:NVAX] by around 6,247,407 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 34,120,234 shares, according to the latest SEC report filing. NVAX stock had 64 new institutional investments in for a total of 2,306,609 shares, while 105 institutional investors sold positions of 777,227 shares during the same period.

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