Novavax, Inc. (NASDAQ:NVAX) is Shah Capital Management's 2nd Largest Position

Shah Capital Management increased its holdings in Novavax, Inc. (NASDAQ:NVAX - Free Report) by 13.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,148,846 shares of the biopharmaceutical company's stock after acquiring an additional 1,333,305 shares during the quarter. Novavax comprises approximately 18.1% of Shah Capital Management's portfolio, making the stock its 2nd biggest position. Shah Capital Management owned 6.96% of Novavax worth $89,637,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. State Street Corp grew its stake in Novavax by 26.7% in the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company's stock worth $97,099,000 after purchasing an additional 1,621,772 shares during the period. Geode Capital Management LLC grew its position in shares of Novavax by 9.5% in the 3rd 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. Bank of Montreal Can increased its stake in shares of Novavax by 26.7% in the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company's stock worth $32,643,000 after acquiring an additional 517,727 shares in the last quarter. Two Sigma Advisers LP lifted its position in Novavax by 48.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company's stock valued at $25,252,000 after acquiring an additional 656,900 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Novavax by 16.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company's stock worth $16,741,000 after acquiring an additional 187,548 shares in the last quarter. Institutional investors own 53.04% of the company's stock.

Novavax Price Performance

NASDAQ NVAX traded up $0.10 during mid-day trading on Monday, reaching $9.32. The stock had a trading volume of 4,495,144 shares, compared to its average volume of 5,168,773. The stock has a market cap of $1.49 billion, a PE ratio of -4.12 and a beta of 2.07. Novavax, Inc. has a 1 year low of $3.53 and a 1 year high of $23.86. The company has a fifty day moving average price of $8.73 and a 200 day moving average price of $10.91.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.07. The business had revenue of $84.51 million during the quarter, compared to analysts' expectations of $65.80 million. During the same quarter in the prior year, the firm earned ($1.26) EPS. The firm's revenue for the quarter was down 54.8% compared to the same quarter last year. As a group, equities research analysts expect that Novavax, Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling at Novavax

In related news, Director Rachel K. King sold 4,150 shares of the company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $9.02, for a total transaction of $37,433.00. Following the completion of the sale, the director now owns 14,770 shares in the company, valued at approximately $133,225.40. This represents a 21.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James F. Young sold 4,600 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $8.48, for a total value of $39,008.00. Following the completion of the transaction, the director now directly owns 57,160 shares in the company, valued at approximately $484,716.80. This represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,150 shares of company stock worth $119,641. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVAX. Jefferies Financial Group decreased their target price on shares of Novavax from $31.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. B. Riley reaffirmed a "buy" rating and set a $26.00 price objective (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Finally, HC Wainwright reiterated a "buy" rating and set a $19.00 price objective on shares of Novavax in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $17.83.

Novavax Company 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.