Novavax (NASDAQ:NVAX) Trading 4.4% Higher

Shares of Novavax, Inc. (NASDAQ:NVAX - Get Free Report) shot up 4.4% during trading on Tuesday . The company traded as high as $4.48 and last traded at $4.48. 1,598,128 shares were traded during trading, a decline of 78% from the average session volume of 7,273,820 shares. The stock had previously closed at $4.29.

Wall Street Analyst Weigh In

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 Up 0.9 %

The stock's 50-day moving average price is $4.71 and its 200 day moving average price is $5.05. The firm has a market cap of $605.98 million, a price-to-earnings ratio of -0.78 and a beta of 1.59.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its quarterly 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 company had revenue of $291.34 million during the quarter, compared to analysts' expectations of $310.96 million. During the same quarter last year, the company earned ($2.28) EPS. The firm's revenue for the quarter was down 18.5% on a year-over-year basis. On average, research analysts predict that Novavax, Inc. will post -0.83 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Coatue Management LLC bought a new stake in Novavax in the 4th quarter valued at $7,294,000. Shah Capital Management increased its stake in Novavax by 22.9% in the fourth quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company's stock valued at $37,348,000 after acquiring an additional 1,450,000 shares during the period. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 978,873 shares in the last quarter. Rafferty Asset Management LLC lifted its position 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 buying an additional 619,370 shares during the period. Finally, TSP Capital Management Group LLC boosted its stake in Novavax by 162.8% in the 3rd quarter. TSP Capital Management Group LLC now owns 966,350 shares of the biopharmaceutical company's stock valued at $6,996,000 after buying an additional 598,600 shares in the last quarter. 53.04% of the stock is owned by institutional investors.

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.