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

Novavax Inc. [NASDAQ: NVAX] surged by $0.76 during the normal trading session on Friday and reaching a high of $7.92 during the day while it closed the day at $7.69. The company report on March 2, 2023 that Novavax Announces Grant of Inducement Awards Pursuant to Nasdaq Listing Rule 5635(c)(4).

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Novavax, Inc. (Nasdaq: NVAX), a global company advancing protein-based vaccines with its novel Matrix-M™ adjuvant, today announced that the Company granted a non-qualified stock option and restricted stock units to Elaine O’Hara, its newly appointed Chief Strategy Officer, as a material inducement for her entry into employment with Novavax, effective as of March 1, 2023 (the “grant date”). These awards were approved by the Compensation Committee of Novavax and were granted in accordance with Nasdaq Listing Rule 5635(c)(4) and pursuant to the Novavax, Inc. 2023 Inducement Plan.

The non-qualified stock option is an option to purchase 67,900 shares of Novavax’s common stock with a per share exercise price of $6.86, the closing price of Novavax’s common stock on the Nasdaq Global Select Market on the grant date. The non-qualified stock option has a ten-year term and will vest as to one-quarter of the underlying shares on the first anniversary of the grant date, and as to the remaining shares in equal monthly installments for 36 months thereafter, in each case generally subject to Ms. O’Hara’s continued employment with Novavax through the applicable vesting date. The restricted stock units are with respect to 58,800 shares of Novavax’s common stock and will vest as to one-third of the restricted stock units on each of the first three anniversaries of the grant date, in each case generally subject to Ms. O’Hara’s continued employment with Novavax through the applicable vesting date. The non-qualified stock option and restricted stock units are subject to the terms and conditions of the Novavax, Inc. 2023 Inducement Plan.

Novavax Inc. stock has also loss -12.81% of its value over the past 7 days. However, NVAX stock has declined by -53.37% in the 3 months of the year. Over the past six months meanwhile, it has lost -76.73% and lost -25.19% year-on date.

The market cap for NVAX stock reached $597.21 million, with 79.84 million shares outstanding and 78.14 million shares in the current float. Compared to the average trading volume of 7.51M shares, NVAX reached a trading volume of 11169273 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $50.80 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 2.70. 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.

B. Riley Securities have made an estimate for Novavax Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 01, 2023. While these analysts kept the previous recommendation, B. Riley Securities dropped their target price from $74 to $37. The new note on the price target was released on January 09, 2023, representing the official price target for Novavax Inc. stock. Previously, the target price had yet another drop from $207 to $110, while H.C. Wainwright kept a Buy rating on NVAX stock.

The Average True Range (ATR) for Novavax Inc. is set at 0.87, with the Price to Sales ratio for NVAX stock in the period of the last 12 months amounting to 0.30.

NVAX stock trade performance evaluation

Novavax Inc. [NVAX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.81. With this latest performance, NVAX shares dropped by -31.52% in over the last four-week period, additionally sinking by -76.73% over the last 6 months – not to mention a drop of -90.82% 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 34.32, with the RSI for the last a single of trading hit 34.13, and the three-weeks RSI is set at 35.40 for Novavax Inc. [NVAX]. The present Moving Average for the last 50 days of trading for this stock 10.44, while it was recorded at 7.88 for the last single week of trading, and 29.10 for the last 200 days.

Novavax Inc. [NVAX]: An insightful look at the core fundamentals

Novavax Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.

Earnings per share (EPS) analysis for Novavax Inc. [NVAX] stock

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 58.20%.

Novavax Inc. [NVAX]: Insider Ownership positions

There are presently around $405 million, or 47.00% of NVAX stock, in the hands of institutional investors. The top three institutional holders of NVAX stocks are: VANGUARD GROUP INC with ownership of 8,844,653, which is approximately 17.993% of the company’s market cap and around 0.30% of the total institutional ownership; STATE STREET CORP, holding 6,076,518 shares of the stock with an approximate value of $46.73 million in NVAX stocks shares; and BLACKROCK INC., currently with $36.82 million in NVAX stock with ownership of nearly 10.673% of the company’s market capitalization.

Positions in Novavax Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 125 institutional holders increased their position in Novavax Inc. [NASDAQ:NVAX] by around 20,989,891 shares. Additionally, 111 investors decreased positions by around 4,346,473 shares, while 58 investors held positions by with 27,320,644 shares. The mentioned changes placed institutional holdings at 52,657,008 shares, according to the latest SEC report filing. NVAX stock had 46 new institutional investments in for a total of 8,710,541 shares, while 47 institutional investors sold positions of 1,714,576 shares during the same period.


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