JPMorgan Chase & Co. downgraded shares of Novavax (NASDAQ:NVAX – Get Rating) from a neutral rating to an underweight rating in a report released on Thursday, The Fly reports. They currently have $27.00 price target on the biopharmaceutical company's stock, down from their prior price target of $132.00.

NVAX has been the topic of a number of other reports. Cantor Fitzgerald upped their price target on shares of Novavax from $146.00 to $168.00 in a research note on Wednesday, June 8th. Cowen lowered their price target on shares of Novavax from $150.00 to $110.00 and set an outperform rating on the stock in a research note on Tuesday, August 9th. B. Riley lowered their price objective on shares of Novavax from $181.00 to $171.00 in a research note on Friday, July 22nd. Finally, Cowen lowered their price objective on shares of Novavax to $110.00 in a research note on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $128.25.

Novavax Stock Performance

Shares of NVAX opened at $21.00 on Thursday. The stock has a market capitalization of $1.64 billion, a P/E ratio of -1.08, a P/E/G ratio of 0.10 and a beta of 1.65. The company's fifty day moving average is $41.22 and its two-hundred day moving average is $52.06. Novavax has a 1 year low of $20.46 and a 1 year high of $257.30.

Institutional Investors Weigh In On Novavax

Several hedge funds have recently modified their holdings of the company. B. Riley Wealth Management Inc. boosted its stake in shares of Novavax by 22.0% during the 2nd quarter. B. Riley Wealth Management Inc. now owns 5,044 shares of the biopharmaceutical company's stock worth $259,000 after purchasing an additional 909 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Novavax by 83.3% during the 2nd quarter. Captrust Financial Advisors now owns 6,703 shares of the biopharmaceutical company's stock worth $345,000 after purchasing an additional 3,047 shares during the last quarter. ExodusPoint Capital Management LP boosted its stake in shares of Novavax by 212.8% during the 2nd quarter. ExodusPoint Capital Management LP now owns 21,296 shares of the biopharmaceutical company's stock worth $1,095,000 after purchasing an additional 14,487 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its stake in shares of Novavax by 309.1% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 142,745 shares of the biopharmaceutical company's stock worth $7,341,000 after purchasing an additional 107,853 shares during the last quarter. Finally, Centiva Capital LP boosted its stake in shares of Novavax by 1,201.1% during the 2nd quarter. Centiva Capital LP now owns 103,397 shares of the biopharmaceutical company's stock worth $5,317,000 after purchasing an additional 112,787 shares during the last quarter. 42.63% of the stock is owned by institutional investors and hedge funds.

About Novavax

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Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.

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