Charles Schwab Investment Management Inc. Boosts Stock Position in Novavax, Inc. (NASDAQ:NVAX)

Charles Schwab Investment Management Inc. increased its holdings in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 16.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,325,508 shares of the biopharmaceutical company's stock after purchasing an additional 187,548 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.83% of Novavax worth $16,741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVAX. Banque Cantonale Vaudoise lifted its position 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 worth $38,000 after buying an additional 2,500 shares during the last quarter. Amalgamated Bank boosted its stake in Novavax by 26.9% in the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company's stock valued at $62,000 after acquiring an additional 1,036 shares in the last quarter. Signaturefd LLC increased its position 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 purchasing an additional 3,874 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 last quarter. Finally, Midland Wealth Advisors LLC acquired a new stake in shares of Novavax in the 2nd quarter valued at about $152,000. 53.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVAX. HC Wainwright reiterated a "buy" rating and issued a $19.00 price objective on shares of Novavax in a research note on Tuesday, November 12th. B. Riley reaffirmed a "buy" rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. Jefferies Financial Group dropped their price target on Novavax from $31.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their target price on Novavax from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Monday, August 12th. One 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $17.83.

Novavax Price Performance

Shares of NASDAQ NVAX traded up $0.64 during trading on Friday, hitting $8.94. 7,104,654 shares of the company were exchanged, compared to its average volume of 5,298,804. Novavax, Inc. has a 1 year low of $3.53 and a 1 year high of $23.86. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -3.96 and a beta of 2.02. The firm's fifty day moving average price is $9.99 and its 200 day moving average price is $12.35.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.07. The company had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. During the same quarter in the previous year, the company posted ($1.26) earnings per share. The company'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 earnings per share for the current year.

Novavax Company 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.