Raymond James Financial Inc. Acquires Shares of 67,644 Novavax, Inc. (NASDAQ:NVAX)

Raymond James Financial Inc. purchased a new stake in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 67,644 shares of the biopharmaceutical company's stock, valued at approximately $544,000.

Other hedge funds have also recently made changes to their positions in the company. Spire Wealth Management purchased a new position in Novavax in the fourth quarter worth about $29,000. KBC Group NV boosted its holdings in shares of Novavax by 97.0% in the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company's stock worth $64,000 after buying an additional 3,917 shares during the last quarter. TigerOak Management L.L.C. bought a new stake in Novavax during the fourth quarter valued at approximately $86,000. Beirne Wealth Consulting Services LLC increased its holdings in Novavax by 65.0% during the fourth quarter. Beirne Wealth Consulting Services LLC now owns 16,500 shares of the biopharmaceutical company's stock valued at $133,000 after buying an additional 6,500 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Novavax by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,965 shares of the biopharmaceutical company's stock valued at $273,000 after buying an additional 3,174 shares during the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Price Performance

Shares of NVAX stock traded up $0.43 during mid-day trading on Friday, hitting $5.86. The company had a trading volume of 6,647,848 shares, compared to its average volume of 8,208,896. The stock's 50 day moving average price is $7.48 and its 200-day moving average price is $8.82. Novavax, Inc. has a 52-week low of $3.81 and a 52-week high of $23.86. The company has a market capitalization of $942.55 million, a P/E ratio of -2.59, a P/E/G ratio of 2.85 and a beta of 3.15.

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Novavax (NASDAQ:NVAX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.75) by $0.24. The firm had revenue of $88.31 million for the quarter, compared to analysts' expectations of $85.48 million. During the same quarter in the previous year, the business earned ($1.44) EPS. On average, equities research analysts expect that Novavax, Inc. will post -1.46 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. TD Cowen upgraded Novavax to a "hold" rating in a research note on Thursday, February 27th. BTIG Research began coverage on shares of Novavax in a research report on Friday, February 28th. They issued a "buy" rating and a $19.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $18.00.

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.