Canada Pension Plan Investment Board lifted its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 19.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 567,800 shares of the biopharmaceutical company’s stock after buying an additional 92,900 shares during the quarter. Canada Pension Plan Investment Board owned about 0.19% of Novavax worth $647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Novavax by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 1,215,100 shares of the biopharmaceutical company’s stock valued at $1,555,000 after purchasing an additional 10,347 shares during the period. American International Group Inc. raised its position in Novavax by 7.1% in the first quarter. American International Group Inc. now owns 166,252 shares of the biopharmaceutical company’s stock worth $213,000 after acquiring an additional 10,965 shares during the period. Vanguard Group Inc. increased its stake in shares of Novavax by 4.5% in the first quarter. Vanguard Group Inc. now owns 21,681,318 shares of the biopharmaceutical company’s stock worth $27,752,000 after purchasing an additional 938,581 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Novavax by 18.3% in the first quarter. Geode Capital Management LLC now owns 2,400,960 shares of the biopharmaceutical company’s stock worth $3,073,000 after purchasing an additional 371,295 shares in the last quarter. Finally, KCG Holdings Inc. increased its stake in shares of Novavax by 161.0% in the first quarter. KCG Holdings Inc. now owns 178,797 shares of the biopharmaceutical company’s stock worth $229,000 after purchasing an additional 110,292 shares in the last quarter. Institutional investors and hedge funds own 36.80% of the company’s stock.
Several equities analysts recently weighed in on NVAX shares. BidaskClub cut shares of Novavax from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research cut shares of Novavax from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. Cantor Fitzgerald restated a “hold” rating and issued a $2.00 target price on shares of Novavax in a report on Wednesday, November 8th. Citigroup upgraded shares of Novavax from a “neutral” rating to a “buy” rating and set a $2.00 target price for the company in a report on Tuesday, October 31st. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Novavax in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $3.12.
In related news, insider Stanley C. Erck bought 100,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were bought at an average price of $1.13 per share, with a total value of $113,000.00. Following the completion of the transaction, the insider now directly owns 228,279 shares of the company’s stock, valued at approximately $257,955.27. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.00% of the company’s stock.
Novavax, Inc. (NVAX) traded down $0.04 on Wednesday, hitting $1.42. 4,150,866 shares of the company traded hands, compared to its average volume of 5,949,334. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of -4.28. Novavax, Inc. has a 1 year low of $0.73 and a 1 year high of $1.78.
Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.01. Novavax had a negative net margin of 726.35% and a negative return on equity of 787.38%. The business had revenue of $8.35 million during the quarter, compared to analyst estimates of $6.42 million. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. The company’s revenue for the quarter was up 158.5% compared to the same quarter last year. equities research analysts forecast that Novavax, Inc. will post -0.62 earnings per share for the current fiscal year.
Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.
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