Northern Trust Corp Boosts Stock Holdings in Novavax, Inc. (NASDAQ:NVAX)

Northern Trust Corp increased its stake in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,451,715 shares of the biopharmaceutical company's stock after buying an additional 83,503 shares during the quarter. Northern Trust Corp owned about 0.91% of Novavax worth $11,672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVAX. Spire Wealth Management acquired a new stake in shares of Novavax in the 4th quarter worth $29,000. New Age Alpha Advisors LLC purchased a new stake in shares of Novavax in the fourth quarter valued at about $35,000. KBC Group NV increased its position in Novavax by 97.0% during the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company's stock worth $64,000 after purchasing an additional 3,917 shares during the last quarter. TigerOak Management L.L.C. acquired a new stake in Novavax during the fourth quarter worth about $86,000. Finally, AlphaQuest LLC raised its stake in Novavax by 290.1% during the fourth quarter. AlphaQuest LLC now owns 10,677 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 7,940 shares during the period. Institutional investors and hedge funds own 53.04% of the company's stock.

Novavax Trading Down 0.8%

Novavax stock traded down $0.06 during trading on Tuesday, hitting $7.68. The company had a trading volume of 22,955,538 shares, compared to its average volume of 7,488,237. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -3.40, a price-to-earnings-growth ratio of 2.85 and a beta of 3.21. Novavax, Inc. has a 1-year low of $5.01 and a 1-year high of $23.86. The company's 50 day simple moving average is $6.68 and its 200-day simple moving average is $7.87.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share (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. Novavax's revenue was up 610.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.05) EPS. As a group, analysts forecast that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NVAX shares. JPMorgan Chase & Co. cut their price target on shares of Novavax from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Friday, May 9th. TD Cowen raised Novavax to a "hold" rating in a research note on Thursday, February 27th. Finally, BTIG Research started coverage on Novavax in a research report on Friday, February 28th. They issued a "buy" rating and a $19.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Novavax currently has an average rating of "Hold" and an average target price 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.