Bank of Montreal Can Buys 517,727 Shares of Novavax, Inc. (NASDAQ:NVAX)

Bank of Montreal Can lifted its stake in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 26.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,454,325 shares of the biopharmaceutical company's stock after purchasing an additional 517,727 shares during the period. Bank of Montreal Can owned approximately 1.53% of Novavax worth $32,643,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise lifted its position in shares of Novavax by 500.0% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 2,500 shares in the last quarter. Amalgamated Bank lifted its position in shares of Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company's stock worth $62,000 after purchasing an additional 1,036 shares in the last quarter. Swedbank AB bought a new stake in shares of Novavax during the first quarter worth approximately $26,000. Signaturefd LLC raised its stake in shares of Novavax by 214.5% during the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company's stock worth $72,000 after buying an additional 3,874 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Novavax by 38.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company's stock worth $77,000 after buying an additional 1,598 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Stock Up 1.2 %

NASDAQ:NVAX traded up $0.10 during trading hours on Friday, hitting $8.72. The stock had a trading volume of 1,707,248 shares, compared to its average volume of 9,574,981. Novavax, Inc. has a one year low of $3.53 and a one year high of $23.86. The business's 50 day moving average is $10.49 and its 200-day moving average is $12.60.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.07. The firm had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. During the same period in the previous year, the company posted ($1.26) EPS. The firm's revenue for the quarter was down 54.8% on a year-over-year basis. Analysts forecast that Novavax, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. HC Wainwright reissued a "buy" rating and set a $19.00 price target on shares of Novavax in a research note on Tuesday, November 12th. B. Riley reissued a "buy" rating and set a $26.00 price target (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on shares of Novavax from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group lowered their target price on shares of Novavax from $31.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Novavax currently has an average rating of "Hold" and a consensus price target of $17.83.

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.