Novavax (NASDAQ:NVAX) Shares Up 6.4%

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright cut their target price 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 Performance

The firm has a market cap of $591.99 million, a P/E ratio of -0.78 and a beta of 1.59. The firm’s fifty day simple moving average is $4.70 and its 200 day simple moving average is $5.19.

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

Institutional Trading of Novavax

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Novavax by 9.3% during the third quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock valued at $83,633,000 after purchasing an additional 978,873 shares during the period. Shah Capital Management grew its holdings in shares of Novavax by 22.9% during the fourth quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock worth $37,348,000 after buying an additional 1,450,000 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of Novavax by 62.4% during 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. Coatue Management LLC acquired a new stake in shares of Novavax in the 4th quarter worth $7,294,000. Finally, TSP Capital Management Group LLC grew its stake in shares of Novavax by 15.0% in the 4th quarter. TSP Capital Management Group LLC now owns 1,111,700 shares of the biopharmaceutical company’s stock valued at $5,336,000 after buying an additional 145,350 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.