Novavax (NASDAQ:NVAX) Shares Up 3.5%

Novavax, Inc. (NASDAQ:NVAX - Get Free Report)'s stock price was up 3.5% on Friday . The stock traded as high as $4.48 and last traded at $4.45. Approximately 1,149,644 shares traded hands during trading, a decline of 85% from the average daily volume of 7,908,655 shares. The stock had previously closed at $4.30.

Wall Street Analyst Weigh In

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 Trading Down 0.5 %

The stock has a market capitalization of $598.99 million, a PE ratio of -0.77 and a beta of 1.59. The firm has a 50-day moving average price of $4.69 and a 200-day moving average price of $5.35.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.95). The firm had revenue of $291.34 million during the quarter, compared to analysts' expectations of $310.96 million. During the same period in the previous year, the company posted ($2.28) earnings per share. Novavax's revenue was down 18.5% on a year-over-year basis. Sell-side analysts expect that Novavax, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Novavax by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company's stock worth $83,633,000 after acquiring an additional 978,873 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Novavax by 467.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company's stock worth $66,000 after acquiring an additional 11,319 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Novavax in the 4th quarter worth about $824,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Novavax by 309.4% in the 3rd 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Novavax by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 703,350 shares of the biopharmaceutical company's stock worth $5,092,000 after acquiring an additional 51,274 shares during the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

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.