Geode Capital Management LLC Has $44.25 Million Stake in Novavax, Inc. (NASDAQ:NVAX)

Geode Capital Management LLC raised its position in shares of Novavax, Inc. (NASDAQ:NVAXFree Report) by 9.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,502,489 shares of the biopharmaceutical company’s stock after purchasing an additional 304,159 shares during the quarter. Geode Capital Management LLC owned 2.19% of Novavax worth $44,245,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in Novavax by 16.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company’s stock valued at $16,741,000 after buying an additional 187,548 shares during the period. Bank of Montreal Can grew its stake in Novavax by 26.7% during the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock valued at $32,643,000 after acquiring an additional 517,727 shares in the last quarter. Shah Capital Management increased its holdings in shares of Novavax by 19.0% in the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock valued at $122,322,000 after purchasing an additional 1,544,263 shares during the period. State Street Corp lifted its position in shares of Novavax by 26.7% in the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after purchasing an additional 1,621,772 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Novavax by 110.3% during the third quarter. Vontobel Holding Ltd. now owns 498,532 shares of the biopharmaceutical company’s stock worth $6,296,000 after purchasing an additional 261,464 shares during the period. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NVAX. HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research note on Tuesday, December 10th. B. Riley reaffirmed a “buy” rating and issued a $26.00 price target (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Finally, Jefferies Financial Group reduced their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.83.

Get Our Latest Research Report on NVAX

Novavax Trading Down 0.7 %

Novavax stock opened at $8.64 on Tuesday. Novavax, Inc. has a 1-year low of $3.53 and a 1-year high of $23.86. The firm’s fifty day simple moving average is $9.05 and its 200-day simple moving average is $11.75. The company has a market capitalization of $1.38 billion, a P/E ratio of -3.82 and a beta of 2.02.

Novavax (NASDAQ:NVAXGet Free Report) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.07. The company had revenue of $84.51 million for the quarter, compared to the consensus estimate of $65.80 million. Novavax’s quarterly revenue was down 54.8% on a year-over-year basis. During the same quarter last year, the business earned ($1.26) earnings per share. On average, equities research analysts predict that Novavax, Inc. will post -1.44 earnings per share for the current year.

Novavax Profile

(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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Institutional Ownership by Quarter for Novavax (NASDAQ:NVAX)

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