Novavax (NASDAQ:NVAX) Trading Down 5%

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

Analyst Ratings Changes

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

Novavax Stock Down 3.2 %

The firm has a 50 day moving average price of $4.69 and a 200 day moving average price of $5.00.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.95). The business 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) EPS. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. As a group, research analysts anticipate that Novavax, Inc. will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novavax

Several institutional investors have recently added to or reduced their stakes in NVAX. Commonwealth Equity Services LLC boosted its position in shares of Novavax by 14.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 17,307 shares of the biopharmaceutical company’s stock valued at $125,000 after acquiring an additional 2,201 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Novavax by 11.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,533 shares of the biopharmaceutical company’s stock worth $293,000 after buying an additional 4,045 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Novavax by 102.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,944 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 7,072 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Novavax by 374.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,075 shares of the biopharmaceutical company’s stock valued at $87,000 after acquiring an additional 9,528 shares during the last quarter. Finally, PEAK6 Investments LLC grew its holdings in shares of Novavax by 47.7% in the third quarter. PEAK6 Investments LLC now owns 30,085 shares of the biopharmaceutical company’s stock worth $218,000 after purchasing an additional 9,714 shares during the last quarter. Hedge funds and other 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.