Massachusetts Financial Services Co. MA Takes $952,000 Position in Novavax, Inc. (NASDAQ:NVAX)

Massachusetts Financial Services Co. MA purchased a new position in Novavax, Inc. (NASDAQ:NVAX) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 75,228 shares of the biopharmaceutical company’s stock, valued at approximately $952,000. Massachusetts Financial Services Co. MA owned approximately 0.05% of Novavax at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Coatue Management LLC purchased a new stake in shares of Novavax in the fourth quarter valued at $7,294,000. Farallon Capital Management LLC acquired a new stake in shares of Novavax during the first quarter worth approximately $5,406,000. Rafferty Asset Management LLC lifted its position in Novavax by 62.4% in the 4th quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock worth $7,737,000 after buying an additional 619,370 shares in the last quarter. Shah Capital Management increased its stake in shares of Novavax by 4.3% in the first quarter. Shah Capital Management now owns 8,117,827 shares of the biopharmaceutical company’s stock worth $38,803,000 after acquiring an additional 337,071 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Novavax in the 1st quarter worth about $1,499,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Stock Up 3.1 %

NASDAQ:NVAX opened at $12.91 on Monday. The firm has a market capitalization of $1.81 billion, a PE ratio of -4.07 and a beta of 2.04. Novavax, Inc. has a 12-month low of $3.53 and a 12-month high of $23.86. The firm has a 50-day moving average price of $13.01 and a 200 day moving average price of $10.73.

Novavax (NASDAQ:NVAX) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The firm had revenue of $415.50 million during the quarter, compared to analyst estimates of $458.57 million. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. On average, research analysts expect that Novavax, Inc. will post -1.04 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on NVAX shares. B. Riley reissued a “buy” rating and issued a $23.00 target price (down from $25.00) on shares of Novavax in a research report on Monday, August 12th. Bank of America lifted their price target on shares of Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. raised their price target on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.80.

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.