Wellington Management Group LLP Makes New $923,000 Investment in Novavax, Inc. (NASDAQ:NVAX)

Wellington Management Group LLP bought a new stake in Novavax, Inc. (NASDAQ:NVAX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 73,115 shares of the biopharmaceutical company's stock, valued at approximately $923,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its holdings in shares of Novavax by 500.0% during the second 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 in the last quarter. Amalgamated Bank increased its stake in Novavax by 26.9% during the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company's stock valued at $62,000 after purchasing an additional 1,036 shares in the last quarter. Signaturefd LLC raised its holdings in 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 buying an additional 3,874 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company's stock valued at $77,000 after buying an additional 1,598 shares in the last quarter. Finally, Midland Wealth Advisors LLC acquired a new position in shares of Novavax during the second quarter valued at about $152,000. 53.04% of the stock is owned by institutional investors.

Novavax Stock Up 0.2 %

Novavax stock traded up $0.02 during mid-day trading on Friday, reaching $8.70. 6,086,848 shares of the company's stock were exchanged, compared to its average volume of 9,218,745. The firm has a market capitalization of $1.39 billion, a PE ratio of -3.85 and a beta of 2.02. The business's fifty day simple moving average is $9.21 and its 200 day simple moving average is $12.00. Novavax, Inc. has a one year low of $3.53 and a one year high of $23.86.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on NVAX. B. Riley restated a "buy" rating and issued a $26.00 target price (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. Jefferies Financial Group lowered 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, HC Wainwright reaffirmed a "buy" rating and set a $19.00 target price on shares of Novavax in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $17.83.

Novavax 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.