Two Sigma Advisers LP Grows Stake in Novavax, Inc. (NASDAQ:NVAX)

Two Sigma Advisers LP lifted its position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 48.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,999,400 shares of the biopharmaceutical company's stock after purchasing an additional 656,900 shares during the quarter. Two Sigma Advisers LP owned about 1.25% of Novavax worth $25,252,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Shah Capital Management lifted its holdings in shares of Novavax by 19.0% during the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company's stock valued at $122,322,000 after purchasing an additional 1,544,263 shares in the last quarter. State Street Corp increased its position in Novavax by 26.7% during the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company's stock valued at $97,099,000 after acquiring an additional 1,621,772 shares during the last quarter. Bank of Montreal Can increased its position in Novavax by 26.7% during the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company's stock valued at $32,643,000 after acquiring an additional 517,727 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Novavax by 16.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company's stock valued at $16,741,000 after acquiring an additional 187,548 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Novavax by 940.7% during the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company's stock valued at $14,579,000 after acquiring an additional 1,043,363 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NVAX has been the subject of a number of analyst reports. HC Wainwright restated a "buy" rating and issued a $19.00 price target on shares of Novavax in a research report on Tuesday, November 12th. 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 note on Thursday, October 10th. Jefferies Financial Group dropped their price objective on Novavax from $31.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price objective on Novavax from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Monday, August 12th. One investment 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.com, the company presently has a consensus rating of "Hold" and a consensus price target of $17.83.

Novavax Stock Up 7.7 %

Novavax stock traded up $0.64 during midday trading on Friday, reaching $8.94. 7,104,654 shares of the stock traded hands, compared to its average volume of 5,298,804. The stock's fifty day moving average is $9.99 and its 200-day moving average is $12.38. Novavax, Inc. has a 12 month low of $3.53 and a 12 month high of $23.86. The stock has a market cap of $1.43 billion, a P/E ratio of -3.96 and a beta of 2.02.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. Novavax's revenue for the quarter was down 54.8% on a year-over-year basis. During the same period in the previous year, the business earned ($1.26) earnings per share. On average, equities analysts predict that Novavax, Inc. will post -1.44 EPS for the current fiscal 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.