Novavax (NASDAQ:NVAX) Trading Up 6.4%

Novavax, Inc. (NASDAQ:NVAX)’s share price shot up 6.4% on Tuesday . The company traded as high as $4.36 and last traded at $4.33. 927,746 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 7,510,653 shares. The stock had previously closed at $4.07.

Analysts Set New Price Targets

Separately, HC Wainwright lowered their price objective on Novavax from $35.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, March 1st.

Novavax Stock Up 3.9 %

The company has a fifty day simple moving average of $4.70 and a two-hundred day simple moving average of $5.19. The stock has a market capitalization of $591.99 million, a P/E ratio of -0.78 and a beta of 1.59.

Novavax (NASDAQ:NVAX) last posted its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.95). The company had revenue of $291.34 million during the quarter, compared to analyst estimates of $310.96 million. During the same period last year, the firm posted ($2.28) earnings per share. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. As a group, equities analysts forecast that Novavax, Inc. will post -0.83 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

Several hedge funds have recently modified their holdings of the stock. Coatue Management LLC bought a new position in Novavax in the fourth quarter valued at approximately $7,294,000. Pennant Investors LP acquired a new position in Novavax during the fourth quarter worth $289,000. Tower Research Capital LLC TRC raised its position in Novavax by 102.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,944 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 7,072 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in Novavax by 62.4% in the fourth quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock valued at $7,737,000 after acquiring an additional 619,370 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Novavax by 45.9% in the 4th quarter. Allianz Asset Management GmbH now owns 634,692 shares of the biopharmaceutical company’s stock valued at $3,047,000 after acquiring an additional 199,771 shares during the period. Institutional investors own 53.04% of the company’s stock.

About Novavax

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.