Geode Capital Management LLC raised its position in shares of Novavax, Inc. (NASDAQ:NVAX – Free 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.
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:NVAX – Get 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
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.
Read More
- Five stocks we like better than Novavax
- Best Stocks Under $5.00
- Dow Jones: A Relevant Benchmark or a Relic of the Past?
- Roth IRA Calculator: Calculate Your Potential Returns
- 3 Big-Name Stocks Just Announced Big-Time Dividend Increases
- How to Invest in Blue Chip Stocks
- Market Overreaction: 2 Stocks to Buy on the Way Down
Want to see what other hedge funds are holding NVAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novavax, Inc. (NASDAQ:NVAX – Free Report).
Receive News & Ratings for Novavax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novavax and related companies with MarketBeat.com's FREE daily email newsletter.