Novavax (NASDAQ:NVAX) Shares Gap Up to $4.65

Shares of Novavax, Inc. (NASDAQ:NVAX - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $4.65, but opened at $4.81. Novavax shares last traded at $4.58, with a volume of 668,658 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVAX. StockNews.com raised Novavax from a "sell" rating to a "hold" rating in a research report on Friday, December 8th. HC Wainwright dropped their price target on Novavax from $35.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, March 1st.

Novavax Price Performance

The firm has a fifty day simple moving average of $4.63 and a 200-day simple moving average of $5.51. The firm has a market cap of $633.97 million, a P/E ratio of -0.84 and a beta of 1.59.

Novavax (NASDAQ:NVAX - Get Free Report) last issued 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 the consensus estimate of $310.96 million. The firm's quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.28) EPS. On average, equities analysts predict that Novavax, Inc. will post -0.88 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Novavax by 26.0% during the fourth quarter. Vanguard Group Inc. now owns 14,560,061 shares of the biopharmaceutical company's stock worth $69,888,000 after purchasing an additional 3,008,585 shares during the last quarter. American International Group Inc. boosted its position in Novavax by 8.9% in the fourth quarter. American International Group Inc. now owns 47,340 shares of the biopharmaceutical company's stock worth $227,000 after purchasing an additional 3,886 shares during the last quarter. Virtus ETF Advisers LLC grew its stake in Novavax by 27.0% in the 4th quarter. Virtus ETF Advisers LLC now owns 16,271 shares of the biopharmaceutical company's stock valued at $78,000 after purchasing an additional 3,458 shares during the period. Legal & General Group Plc increased its position in shares of Novavax by 2.7% during the 4th quarter. Legal & General Group Plc now owns 99,345 shares of the biopharmaceutical company's stock valued at $477,000 after purchasing an additional 2,657 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Novavax by 8.3% during the 4th quarter. Voya Investment Management LLC now owns 37,630 shares of the biopharmaceutical company's stock worth $181,000 after purchasing an additional 2,875 shares during the period. Hedge funds and other institutional investors 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.