BNP Paribas Financial Markets Raises Position in Novavax, Inc. (NASDAQ:NVAX)

BNP Paribas Financial Markets boosted its holdings in Novavax, Inc. (NASDAQ:NVAX - Free Report) by 289.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 556,832 shares of the biopharmaceutical company's stock after purchasing an additional 413,676 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.35% of Novavax worth $4,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new position in Novavax in the fourth quarter valued at $29,000. New Age Alpha Advisors LLC acquired a new position in Novavax in the fourth quarter valued at $35,000. KBC Group NV increased its stake in Novavax by 97.0% in the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company's stock valued at $64,000 after purchasing an additional 3,917 shares during the last quarter. TigerOak Management L.L.C. acquired a new position in Novavax in the fourth quarter valued at $86,000. Finally, AlphaQuest LLC increased its stake in Novavax by 290.1% in the fourth quarter. AlphaQuest LLC now owns 10,677 shares of the biopharmaceutical company's stock valued at $86,000 after purchasing an additional 7,940 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Trading Up 7.0%

NASDAQ:NVAX traded up $0.44 on Friday, hitting $6.73. 8,749,542 shares of the stock were exchanged, compared to its average volume of 7,145,713. The stock has a market cap of $1.09 billion, a PE ratio of -2.98, a PEG ratio of 2.85 and a beta of 3.21. The stock has a fifty day moving average of $6.69 and a 200-day moving average of $7.91. Novavax, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $23.86.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 EPS for the quarter, topping the consensus estimate of $0.71 by $2.22. The firm had revenue of $666.66 million for the quarter, compared to analyst estimates of $204.08 million. During the same quarter in the prior year, the company earned ($1.05) earnings per share. The business's revenue was up 610.3% compared to the same quarter last year. As a group, analysts predict that Novavax, Inc. will post -1.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NVAX has been the subject of several analyst reports. TD Cowen upgraded Novavax to a "hold" rating in a research note on Thursday, February 27th. BTIG Research assumed coverage on Novavax in a research note on Friday, February 28th. They issued a "buy" rating and a $19.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on Novavax from $9.00 to $7.00 and set an "underweight" rating for the company in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $19.00.

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.