Novavax (NASDAQ:NVAX) Shares Up 6.4%

Novavax, Inc. (NASDAQ:NVAX) traded up 6.4% during mid-day trading on Tuesday . The stock traded as high as $4.36 and last traded at $4.33. 927,746 shares were traded during mid-day trading, a decline of 88% from the average session volume of 7,510,653 shares. The stock had previously closed at $4.07.

Analyst Ratings Changes

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

Novavax Stock Down 1.0 %

The company’s 50 day moving average price is $4.71 and its 200-day moving average price is $5.15.

Novavax (NASDAQ:NVAX) last posted 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 for the quarter, compared to analysts’ expectations of $310.96 million. Novavax’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period last year, the firm posted ($2.28) EPS. On average, research analysts expect that Novavax, Inc. will post -0.83 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

Institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. grew its position in Novavax by 467.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company’s stock valued at $66,000 after buying an additional 11,319 shares during the period. Tower Research Capital LLC TRC boosted its position in Novavax by 102.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,944 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 7,072 shares during the period. Fox Run Management L.L.C. bought a new position in Novavax during the third quarter worth about $72,000. Roof Eidam Maycock Peralta LLC bought a new position in Novavax during the third quarter worth about $72,000. Finally, Hodges Capital Management Inc. bought a new position in Novavax during the third quarter worth about $72,000. Institutional investors own 53.04% of the company’s stock.

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.