Novavax, Inc. (NASDAQ:NVAX) shares shot up 6.6% during mid-day trading on Thursday . The company traded as high as $1.78 and last traded at $1.78. 4,642,647 shares were traded during trading, a decline of 35% from the average session volume of 7,119,686 shares. The stock had previously closed at $1.67.

A number of brokerages recently issued reports on NVAX. BidaskClub upgraded Novavax from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. Zacks Investment Research downgraded Novavax from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Cantor Fitzgerald set a $2.00 price objective on Novavax and gave the company a “hold” rating in a research note on Wednesday, September 26th. B. Riley set a $10.00 price objective on Novavax and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, JPMorgan Chase & Co. upgraded Novavax from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $2.00 to $2.25 in a research note on Friday, September 21st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $3.37.

The firm has a market capitalization of $654.67 million, a P/E ratio of -2.83 and a beta of 2.51.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.12) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.12). The business had revenue of $7.70 million during the quarter, compared to analysts’ expectations of $9.63 million. During the same period in the prior year, the firm posted ($0.15) earnings per share. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. Research analysts forecast that Novavax, Inc. will post -0.5 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC lifted its holdings in Novavax by 52.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 284,027 shares of the biopharmaceutical company’s stock worth $534,000 after purchasing an additional 97,901 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Novavax in the 3rd quarter worth approximately $113,000. Paloma Partners Management Co purchased a new position in Novavax in the 3rd quarter worth approximately $256,000. Baker BROS. Advisors LP purchased a new position in Novavax in the 3rd quarter worth approximately $8,870,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Novavax by 276.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,553 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 114,253 shares in the last quarter. 42.22% of the stock is currently owned by institutional investors.

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Novavax Company Profile (NASDAQ:NVAX)

Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.

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