Canada Pension Plan Investment Board Acquires 71,500 Shares of Novavax, Inc. (NASDAQ:NVAX)

Canada Pension Plan Investment Board boosted its stake in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 23.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 379,300 shares of the biopharmaceutical company's stock after buying an additional 71,500 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.24% of Novavax worth $3,050,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its position in shares of Novavax by 16.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 16,126 shares of the biopharmaceutical company's stock valued at $130,000 after acquiring an additional 2,287 shares during the period. Quinn Opportunity Partners LLC grew its holdings in Novavax by 1,130.1% during the fourth quarter. Quinn Opportunity Partners LLC now owns 136,061 shares of the biopharmaceutical company's stock valued at $1,094,000 after purchasing an additional 125,000 shares during the period. Raymond James Financial Inc. bought a new position in Novavax during the fourth quarter valued at $544,000. Martingale Asset Management L P increased its position in Novavax by 11.8% in the fourth quarter. Martingale Asset Management L P now owns 39,109 shares of the biopharmaceutical company's stock worth $314,000 after buying an additional 4,123 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Novavax by 4.4% in the fourth quarter. Federated Hermes Inc. now owns 50,506 shares of the biopharmaceutical company's stock valued at $406,000 after buying an additional 2,124 shares during the period. Institutional investors own 53.04% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. TD Cowen raised Novavax to a "hold" rating in a report on Thursday, February 27th. BTIG Research assumed coverage on shares of Novavax in a research note on Friday, February 28th. They issued a "buy" rating and a $19.00 target price 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $18.00.

Novavax Trading Up 4.0 %

Shares of Novavax stock opened at $6.25 on Wednesday. The company's 50-day moving average price is $7.20 and its 200-day moving average price is $8.47. Novavax, Inc. has a 12-month low of $3.90 and a 12-month high of $23.86. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -2.77, a PEG ratio of 2.85 and a beta of 3.15.

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

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.

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