Novavax (NASDAQ:NVAX) Trading 3.5% Higher

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

Analysts Set New Price Targets

Separately, HC Wainwright lowered their price objective on Novavax from $35.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, March 1st.

Novavax Trading Down 0.5 %

The stock has a market capitalization of $598.99 million, a P/E ratio of -0.77 and a beta of 1.59. The stock has a 50 day moving average of $4.69 and a 200-day moving average of $5.34.

Novavax (NASDAQ:NVAX) last issued its quarterly 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 analysts’ expectations of $310.96 million. During the same period in the prior year, the company earned ($2.28) earnings per share. The business’s revenue was down 18.5% compared to the same quarter last year. Research analysts anticipate that Novavax, Inc. will post -0.88 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NVAX. US Bancorp DE increased its holdings in Novavax by 41.8% during the 1st quarter. US Bancorp DE now owns 2,083 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 614 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Novavax by 22.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,441 shares of the biopharmaceutical company’s stock worth $1,064,000 after purchasing an additional 2,609 shares during the period. HighTower Advisors LLC increased its holdings in Novavax by 29.8% during the 1st quarter. HighTower Advisors LLC now owns 10,836 shares of the biopharmaceutical company’s stock worth $800,000 after purchasing an additional 2,486 shares during the period. MetLife Investment Management LLC purchased a new position in Novavax during the 1st quarter worth $359,000. Finally, Allianz Asset Management GmbH increased its holdings in Novavax by 239.7% during the 1st quarter. Allianz Asset Management GmbH now owns 71,862 shares of the biopharmaceutical company’s stock worth $5,292,000 after purchasing an additional 50,708 shares during the period. 53.04% of the stock is currently 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.