Novavax (NASDAQ:NVAX) Shares Up 6.4%

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright decreased their price target on shares of 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 company’s 50 day moving average price is $4.71 and its 200 day moving average price is $5.15.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results 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 firm had revenue of $291.34 million for the quarter, compared to analyst estimates of $310.96 million. During the same quarter in the prior year, the business earned ($2.28) earnings per share. Novavax’s revenue was down 18.5% compared to the same quarter last year. On average, analysts anticipate that Novavax, Inc. will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Novavax

Several large investors have recently bought and sold shares of NVAX. Roof Eidam Maycock Peralta LLC acquired a new position in Novavax in the third quarter valued at approximately $72,000. Commonwealth Equity Services LLC lifted its holdings in Novavax by 14.6% in the third quarter. Commonwealth Equity Services LLC now owns 17,307 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 2,201 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in Novavax in the third quarter valued at approximately $212,000. Raymond James & Associates acquired a new position in Novavax in the third quarter valued at approximately $1,021,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Novavax in the third quarter valued at approximately $76,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

About Novavax

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.