Geode Capital Management LLC Boosts Stake in Novavax, Inc. (NASDAQ:NVAX)

Geode Capital Management LLC boosted its holdings in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 9.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,502,489 shares of the biopharmaceutical company's stock after buying an additional 304,159 shares during the period. Geode Capital Management LLC owned approximately 2.19% of Novavax worth $44,245,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Amalgamated Bank boosted its holdings in 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 during the last quarter. Ensign Peak Advisors Inc lifted its holdings in Novavax by 3.0% during the second quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company's stock worth $568,000 after acquiring an additional 1,300 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Novavax by 38.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company's stock valued at $77,000 after purchasing an additional 1,598 shares during the period. Victory Capital Management Inc. increased its position in shares of Novavax by 12.0% during the 3rd quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company's stock valued at $244,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Novavax by 500.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company's stock worth $38,000 after buying an additional 2,500 shares during the last quarter. 53.04% of the stock is owned by institutional investors.

Novavax Price Performance

Shares of Novavax stock traded down $0.13 during trading hours on Tuesday, reaching $8.51. The company had a trading volume of 1,475,572 shares, compared to its average volume of 9,158,966. Novavax, Inc. has a one year low of $3.53 and a one year high of $23.86. The firm has a market cap of $1.36 billion, a PE ratio of -3.77 and a beta of 2.02. The business has a fifty day simple moving average of $9.05 and a 200 day simple moving average of $11.75.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts' consensus estimates of ($0.83) by $0.07. The company had revenue of $84.51 million for the quarter, compared to analysts' expectations of $65.80 million. During the same period in the previous year, the firm earned ($1.26) EPS. The firm's quarterly revenue was down 54.8% compared to the same quarter last year. On average, research analysts forecast that Novavax, Inc. will post -1.44 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on NVAX shares. B. Riley reaffirmed a "buy" rating and issued a $26.00 price objective (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Jefferies Financial Group dropped their price objective on Novavax from $31.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. Finally, HC Wainwright restated a "buy" rating and issued a $19.00 target price on shares of Novavax in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Novavax currently has an average rating of "Hold" and an average target price 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.