Novavax (NASDAQ:NVAX) Shares Gap Up to $4.65

Novavax, Inc. (NASDAQ:NVAXGet Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $4.65, but opened at $4.81. Novavax shares last traded at $4.58, with a volume of 668,658 shares.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Novavax from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. 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.

Check Out Our Latest Research Report on NVAX

Novavax Stock Up 0.2 %

The stock’s fifty day moving average is $4.65 and its two-hundred day moving average is $5.48.

Novavax (NASDAQ:NVAXGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.95). The business had revenue of $291.34 million for the quarter, compared to analyst estimates of $310.96 million. The firm’s revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.28) earnings per share. As a group, analysts predict that Novavax, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

Several institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its holdings in shares of Novavax by 124.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,809 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 1,004 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Novavax by 41.8% in the first quarter. US Bancorp DE now owns 2,083 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 614 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Novavax by 34.9% in the first quarter. Neuberger Berman Group LLC now owns 2,764 shares of the biopharmaceutical company’s stock worth $204,000 after buying an additional 715 shares in the last quarter. Toroso Investments LLC lifted its holdings in shares of Novavax by 15.3% in the first quarter. Toroso Investments LLC now owns 3,297 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 437 shares in the last quarter. Finally, PDT Partners LLC purchased a new stake in Novavax in the first quarter valued at approximately $243,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

About Novavax

(Get Free Report)

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.

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