Novavax (NASDAQ:NVAX) Stock Price Down 5%

Novavax, Inc. (NASDAQ:NVAX) was down 5% during mid-day trading on Tuesday . The stock traded as low as $4.49 and last traded at $4.52. Approximately 3,008,245 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 7,139,622 shares. The stock had previously closed at $4.76.

Wall Street Analyst Weigh In

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

Novavax Stock Down 3.2 %

The company’s fifty day moving average is $4.69 and its two-hundred day moving average is $5.00.

Novavax (NASDAQ:NVAX) last announced its quarterly 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 analysts’ expectations 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. Equities analysts forecast that Novavax, Inc. will post -0.82 EPS for the current year.

Institutional Trading of Novavax

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Novavax by 9.3% during the third quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock worth $83,633,000 after purchasing an additional 978,873 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Novavax by 467.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company’s stock worth $66,000 after buying an additional 11,319 shares in the last quarter. Shah Capital Management lifted its holdings in shares of Novavax by 22.9% in the 4th quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock valued at $37,348,000 after buying an additional 1,450,000 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Novavax in the fourth quarter valued at approximately $824,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Novavax by 309.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,303 shares of the biopharmaceutical company’s stock worth $437,000 after acquiring an additional 45,574 shares during the period. 53.04% of the stock is owned by institutional investors and hedge funds.

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.