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

Novavax, Inc. (NASDAQ:NVAX) gapped up prior to trading 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 trading hands.

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 Stock Performance

The firm has a 50 day simple moving average of $4.69 and a two-hundred day simple moving average of $5.32. The firm has a market capitalization of $583.59 million, a P/E ratio of -0.77 and a beta of 1.59.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the business posted ($2.28) EPS. The company’s quarterly revenue was down 18.5% on a year-over-year basis. Sell-side analysts anticipate that Novavax, Inc. will post -0.88 earnings per share for the current year.

Institutional Investors Weigh In On Novavax

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Novavax by 26.0% during the 4th 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 period. State Street Corp raised its stake in shares of Novavax by 5.2% during the 2nd quarter. State Street Corp now owns 11,679,428 shares of the biopharmaceutical company’s stock worth $86,778,000 after purchasing an additional 576,803 shares during the period. Shah Capital Management raised its stake in shares of Novavax by 22.9% during the 4th quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock worth $37,348,000 after purchasing an additional 1,450,000 shares during the period. BlackRock Inc. raised its stake in shares of Novavax by 46.5% during the 2nd quarter. BlackRock Inc. now owns 6,994,773 shares of the biopharmaceutical company’s stock worth $51,971,000 after purchasing an additional 2,220,039 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Novavax by 25.5% during the 1st quarter. Renaissance Technologies LLC now owns 3,540,383 shares of the biopharmaceutical company’s stock worth $24,535,000 after purchasing an additional 718,700 shares during the period. 53.04% of the stock is currently owned by 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.