Novavax (NASDAQ:NVAX) Shares Gap Up to $4.28

Novavax, Inc. (NASDAQ:NVAX) shares gapped up prior to trading on Monday . The stock had previously closed at $4.28, but opened at $4.42. Novavax shares last traded at $4.30, with a volume of 734,782 shares trading hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright cut their price objective on shares of Novavax from $35.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 1st.

Novavax Stock Performance

The firm has a market capitalization of $558.40 million, a P/E ratio of -0.72 and a beta of 1.59. The firm’s 50-day moving average is $4.70 and its 200 day moving average is $5.30.

Novavax (NASDAQ:NVAX) last posted 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 company had revenue of $291.34 million for the quarter, compared to analyst estimates of $310.96 million. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.28) earnings per share. As a group, research analysts expect that Novavax, Inc. will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Novavax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Toroso Investments LLC increased its stake in Novavax by 15.3% in the 1st quarter. Toroso Investments LLC now owns 3,297 shares of the biopharmaceutical company’s stock valued at $243,000 after buying an additional 437 shares during the last quarter. US Bancorp DE increased its stake in Novavax by 41.8% in the 1st quarter. US Bancorp DE now owns 2,083 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 614 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Novavax by 34.9% in the 1st quarter. Neuberger Berman Group LLC now owns 2,764 shares of the biopharmaceutical company’s stock valued at $204,000 after buying an additional 715 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Novavax by 124.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,809 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 1,004 shares during the last quarter. Finally, Creative Planning increased its stake in Novavax by 11.6% in the 2nd quarter. Creative Planning now owns 10,258 shares of the biopharmaceutical company’s stock valued at $528,000 after buying an additional 1,065 shares during the last quarter. 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.