Novavax (NASDAQ:NVAX) Shares Gap Up to $4.28

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $4.28, but opened at $4.42. Novavax shares last traded at $4.30, with a volume of 734,782 shares traded.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright dropped their price objective 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 Stock Performance

The company has a market capitalization of $576.59 million, a price-to-earnings ratio of -0.75 and a beta of 1.59. The business has a 50 day moving average price of $4.70 and a 200-day moving average price of $5.30.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $291.34 million during the quarter, compared to the consensus estimate of $310.96 million. Novavax's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter last year, the company earned ($2.28) earnings per share. As a group, equities analysts predict that Novavax, Inc. will post -0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Novavax by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company's stock worth $83,633,000 after buying an additional 978,873 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in 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 purchasing an additional 11,319 shares in the last quarter. SG Americas Securities LLC bought a new stake in Novavax during the 4th quarter worth approximately $824,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Novavax by 309.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,303 shares of the biopharmaceutical company's stock worth $437,000 after purchasing an additional 45,574 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Novavax by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 703,350 shares of the biopharmaceutical company's stock worth $5,092,000 after purchasing an additional 51,274 shares in the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.

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.