Novavax, Inc. (NASDAQ:NVAX) Shares Acquired by State Street Corp

State Street Corp increased its stake in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 26.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,687,951 shares of the biopharmaceutical company's stock after buying an additional 1,621,772 shares during the quarter. State Street Corp owned about 4.80% of Novavax worth $97,099,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NVAX. Shah Capital Management increased its holdings in Novavax by 19.0% in the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company's stock worth $122,322,000 after buying an additional 1,544,263 shares during the period. Bank of Montreal Can increased its stake in shares of Novavax by 26.7% in the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company's stock worth $32,643,000 after acquiring an additional 517,727 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Novavax by 16.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company's stock worth $16,741,000 after acquiring an additional 187,548 shares during the period. SG Americas Securities LLC raised its holdings in shares of Novavax by 940.7% during the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company's stock worth $14,579,000 after purchasing an additional 1,043,363 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Novavax during the second quarter valued at $14,055,000. 53.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on NVAX. B. Riley reiterated a "buy" rating and set a $26.00 price objective (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. HC Wainwright reiterated a "buy" rating and set a $19.00 price target on shares of Novavax in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group lowered their price objective on Novavax from $31.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Novavax presently has an average rating of "Hold" and a consensus price target of $17.83.

Novavax Stock Performance

NASDAQ NVAX traded down $0.23 during trading hours on Tuesday, reaching $9.00. The company's stock had a trading volume of 2,828,019 shares, compared to its average volume of 3,945,133. The company's 50-day moving average is $9.45 and its two-hundred day moving average is $12.09. Novavax, Inc. has a 1-year low of $3.53 and a 1-year high of $23.86.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.83) by $0.07. The business had revenue of $84.51 million for the quarter, compared to analysts' expectations of $65.80 million. The company's quarterly revenue was down 54.8% on a year-over-year basis. During the same quarter last year, the business earned ($1.26) EPS. Sell-side analysts anticipate that Novavax, Inc. will post -1.44 EPS for the current fiscal 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.