Edgestream Partners L.P. Takes Position in Novavax, Inc. (NASDAQ:NVAX)

Edgestream Partners L.P. acquired a new position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 125,114 shares of the biopharmaceutical company's stock, valued at approximately $1,580,000. Edgestream Partners L.P. owned approximately 0.08% of Novavax at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise increased its stake in shares of Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company's stock valued at $38,000 after acquiring an additional 2,500 shares during the last quarter. Amalgamated Bank increased its position in Novavax by 26.9% during the 2nd 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. Signaturefd LLC increased its position in Novavax by 214.5% during the 2nd quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company's stock worth $72,000 after purchasing an additional 3,874 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company's stock worth $77,000 after purchasing an additional 1,598 shares in the last quarter. Finally, Midland Wealth Advisors LLC acquired a new stake in Novavax during the 2nd quarter worth approximately $152,000. Hedge funds and other institutional investors own 53.04% of the company's stock.

Novavax Price Performance

Shares of NVAX stock traded down $0.11 on Wednesday, hitting $8.30. 3,981,486 shares of the stock traded hands, compared to its average volume of 9,498,280. The company has a market capitalization of $1.33 billion, a PE ratio of -3.72 and a beta of 2.02. Novavax, Inc. has a 1-year low of $3.53 and a 1-year high of $23.86. The company's fifty day moving average is $10.23 and its 200 day moving average is $12.49.

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

Analyst Ratings Changes

NVAX has been the subject of a number of research analyst reports. B. Riley reissued a "buy" rating and set a $26.00 target price (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on Novavax from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Monday, August 12th. HC Wainwright restated a "buy" rating and issued a $19.00 price target on shares of Novavax in a report on Tuesday, November 12th. Finally, Jefferies Financial Group decreased their price target on Novavax from $31.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $17.83.

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.