Novavax (NASDAQ:NVAX) Trading 4.4% Higher

Novavax, Inc. (NASDAQ:NVAX)’s stock price traded up 4.4% during trading on Tuesday . The stock traded as high as $4.48 and last traded at $4.48. 1,598,128 shares were traded during trading, a decline of 78% from the average session volume of 7,273,820 shares. The stock had previously closed at $4.29.

Analyst Upgrades and Downgrades

Separately, HC Wainwright cut their price target on shares of Novavax from $35.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, March 1st.

Novavax Trading Up 0.9 %

The stock has a market capitalization of $605.98 million, a PE ratio of -0.80 and a beta of 1.59. The business’s 50-day moving average is $4.70 and its two-hundred day moving average is $5.07.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.95). The business had revenue of $291.34 million for the quarter, compared to the consensus estimate of $310.96 million. During the same period last year, the business earned ($2.28) earnings per share. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, analysts predict that Novavax, Inc. will post -0.83 EPS for the current year.

Hedge Funds Weigh In On Novavax

A number of institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its stake in Novavax by 95.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,878 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 13,135 shares in the last quarter. Coatue Management LLC bought a new stake in shares of Novavax during the 4th quarter valued at about $7,294,000. Pennant Investors LP bought a new stake in Novavax in the 4th quarter valued at about $289,000. Tower Research Capital LLC TRC grew its stake in shares of Novavax by 102.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,944 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 7,072 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in shares of Novavax by 62.4% in the 4th quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock worth $7,737,000 after purchasing an additional 619,370 shares during the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.