Twinbeech Capital LP Buys New Shares in Novavax, Inc. (NASDAQ:NVAX)

Twinbeech Capital LP purchased a new stake in Novavax, Inc. (NASDAQ:NVAX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 69,034 shares of the biopharmaceutical company's stock, valued at approximately $555,000.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position 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 in the last quarter. Shah Capital Management raised its position in Novavax by 13.6% during the 4th quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company's stock valued at $89,637,000 after purchasing an additional 1,333,305 shares during the last quarter. Sanofi bought a new position in Novavax during the 4th quarter valued at approximately $55,319,000. Geode Capital Management LLC grew its holdings in shares of Novavax by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 3,657,695 shares of the biopharmaceutical company's stock worth $29,415,000 after acquiring an additional 155,206 shares during the period. Finally, Deep Track Capital LP purchased a new position in shares of Novavax during the 4th quarter worth approximately $16,080,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NVAX shares. TD Cowen upgraded Novavax to a "hold" rating in a research note on Thursday, February 27th. B. Riley reiterated a "buy" rating on shares of Novavax in a research note on Monday, May 19th. JPMorgan Chase & Co. cut their target price on Novavax from $9.00 to $7.00 and set an "underweight" rating on the stock in a research note on Friday, May 9th. Finally, BTIG Research assumed coverage on Novavax in a research note on Friday, February 28th. They set a "buy" rating and a $19.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $19.00.

Novavax Stock Performance

Shares of NASDAQ NVAX traded down $0.23 during midday trading on Wednesday, hitting $7.16. 2,172,476 shares of the stock traded hands, compared to its average volume of 7,253,038. The firm has a 50-day moving average of $6.60 and a two-hundred day moving average of $7.80. The firm has a market capitalization of $1.16 billion, a P/E ratio of -3.17, a PEG ratio of 2.85 and a beta of 3.21. Novavax, Inc. has a one year low of $5.01 and a one year high of $23.86.

Novavax (NASDAQ:NVAX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $0.71 by $2.22. The firm had revenue of $666.66 million for the quarter, compared to the consensus estimate of $204.08 million. Novavax's quarterly revenue was up 610.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.05) earnings per share. Equities analysts forecast that Novavax, Inc. will post -1.46 earnings per share 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.