Geode Capital Management LLC Purchases 155,206 Shares of Novavax, Inc. (NASDAQ:NVAX)

Geode Capital Management LLC lifted its stake in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,657,695 shares of the biopharmaceutical company's stock after purchasing an additional 155,206 shares during the quarter. Geode Capital Management LLC owned 2.28% of Novavax worth $29,415,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new stake in shares of Novavax in the third quarter worth about $923,000. Barclays PLC lifted its stake in Novavax by 73.9% in the 3rd quarter. Barclays PLC now owns 709,579 shares of the biopharmaceutical company's stock worth $8,961,000 after purchasing an additional 301,627 shares in the last quarter. Franklin Resources Inc. lifted its stake in Novavax by 300.4% in the 3rd quarter. Franklin Resources Inc. now owns 97,162 shares of the biopharmaceutical company's stock worth $1,226,000 after purchasing an additional 72,894 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Novavax by 0.4% in the 4th quarter. SG Americas Securities LLC now owns 1,158,967 shares of the biopharmaceutical company's stock valued at $9,318,000 after purchasing an additional 4,691 shares during the period. Finally, Shah Capital Management grew its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 53.04% of the company's stock.

Novavax Price Performance

NASDAQ NVAX traded up $1.26 during trading hours on Wednesday, reaching $7.51. 6,592,242 shares of the stock traded hands, compared to its average volume of 8,246,853. The stock has a 50 day simple moving average of $7.20 and a two-hundred day simple moving average of $8.47. Novavax, Inc. has a 1 year low of $3.90 and a 1 year high of $23.86. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -3.32, a price-to-earnings-growth ratio of 2.85 and a beta of 3.15.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) EPS for the quarter, beating analysts' consensus estimates of ($0.75) by $0.24. The business had revenue of $88.31 million for the quarter, compared to the consensus estimate of $85.48 million. During the same quarter in the previous year, the business earned ($1.44) earnings per share. On average, sell-side analysts forecast that Novavax, Inc. will post -1.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NVAX shares. TD Cowen raised Novavax to a "hold" rating in a research note on Thursday, February 27th. BTIG Research initiated coverage on Novavax in a report on Friday, February 28th. They issued a "buy" rating and a $19.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $18.00.

Novavax 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.