JPMorgan Chase & Co. cut shares of Novavax (NASDAQ:NVAX) from a neutral rating to an underweight rating in a research report sent to investors on Monday morning, MarketBeat reports.

NVAX has been the topic of a number of other research reports. Cantor Fitzgerald reissued a hold rating and set a $2.00 price objective on shares of Novavax in a report on Monday, December 18th. BidaskClub downgraded shares of Novavax from a buy rating to a hold rating in a report on Saturday, December 2nd. Citigroup raised shares of Novavax from a neutral rating to a buy rating in a report on Thursday, March 1st. Ladenburg Thalmann Financial Services boosted their price objective on shares of Novavax to $2.50 and gave the stock a buy rating in a report on Thursday, January 11th. Finally, Zacks Investment Research downgraded shares of Novavax from a hold rating to a sell rating in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $3.23.

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Shares of Novavax stock opened at $2.12 on Monday. The firm has a market cap of $718.42, a PE ratio of -3.37 and a beta of 2.50. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of -3.12. Novavax has a fifty-two week low of $0.73 and a fifty-two week high of $2.75.

Novavax (NASDAQ:NVAX) last issued its earnings results on Wednesday, March 14th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.01). The firm had revenue of $10.40 million for the quarter, compared to analyst estimates of $7.98 million. The firm’s quarterly revenue was up 92.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) earnings per share. sell-side analysts expect that Novavax will post -0.54 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas lifted its holdings in shares of Novavax by 349.8% in the fourth quarter. Teacher Retirement System of Texas now owns 99,952 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 77,733 shares in the last quarter. Aperio Group LLC lifted its holdings in shares of Novavax by 121.1% in the fourth quarter. Aperio Group LLC now owns 115,323 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 63,155 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Novavax by 18.6% in the second quarter. Voya Investment Management LLC now owns 138,270 shares of the biopharmaceutical company’s stock valued at $159,000 after purchasing an additional 21,639 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Novavax in the fourth quarter valued at about $172,000. Finally, Fisher Asset Management LLC purchased a new stake in shares of Novavax in the fourth quarter valued at about $179,000. 39.22% of the stock is currently owned by institutional investors.

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About Novavax

Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.

Analyst Recommendations for Novavax (NASDAQ:NVAX)

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