Canada Pension Plan Investment Board Raises Position in Novavax, Inc. (NASDAQ:NVAX)

Canada Pension Plan Investment Board lifted its position in Novavax, Inc. (NASDAQ:NVAX - Free Report) by 23.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 379,300 shares of the biopharmaceutical company's stock after purchasing an additional 71,500 shares during the period. Canada Pension Plan Investment Board owned 0.24% of Novavax worth $3,050,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NVAX. Shah Capital Management lifted its holdings in Novavax by 13.6% during the fourth quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company's stock worth $89,637,000 after buying an additional 1,333,305 shares during the period. ExodusPoint Capital Management LP purchased a new stake in Novavax during the fourth quarter worth $2,687,000. Geode Capital Management LLC lifted its holdings in Novavax by 9.5% during the third quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company's stock worth $44,245,000 after buying an additional 304,159 shares during the period. Barclays PLC lifted its holdings in Novavax by 73.9% during the third quarter. Barclays PLC now owns 709,579 shares of the biopharmaceutical company's stock worth $8,961,000 after buying an additional 301,627 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Novavax by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 15,726,250 shares of the biopharmaceutical company's stock worth $126,439,000 after buying an additional 296,181 shares during the period. Hedge funds and other institutional investors own 53.04% of the company's stock.

Novavax Trading Up 0.4 %

NVAX traded up $0.03 during midday trading on Monday, hitting $6.70. 5,687,765 shares of the company were exchanged, compared to its average volume of 8,359,226. The company's 50 day simple moving average is $7.10 and its 200 day simple moving average is $8.28. Novavax, Inc. has a 1-year low of $4.10 and a 1-year high of $23.86. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -2.96, a price-to-earnings-growth ratio of 2.85 and a beta of 3.15.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.24. The firm had revenue of $88.31 million for the quarter, compared to analysts' expectations of $85.48 million. During the same period in the previous year, the company earned ($1.44) earnings per share. On average, equities analysts anticipate that Novavax, Inc. will post -1.46 EPS for the current year.

Analyst Upgrades and Downgrades

NVAX has been the subject of a number of analyst reports. TD Cowen upgraded Novavax to a "hold" rating in a report on Thursday, February 27th. BTIG Research began coverage on Novavax in a research report on Friday, February 28th. They set a "buy" rating and a $19.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.00.

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.