Bank of New York Mellon Corp Increases Position in Novavax, Inc. (NASDAQ:NVAX)

Bank of New York Mellon Corp lifted its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 436,451 shares of the biopharmaceutical company’s stock after acquiring an additional 1,664 shares during the quarter. Bank of New York Mellon Corp’s holdings in Novavax were worth $3,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of NVAX. State Street Corp increased its position in shares of Novavax by 26.7% during the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after acquiring an additional 1,621,772 shares during the period. Shah Capital Management boosted its stake in Novavax by 13.6% in the fourth quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company’s stock valued at $89,637,000 after acquiring an additional 1,333,305 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Novavax by 48.9% in the third 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 in the last quarter. Bank of Montreal Can boosted its stake in Novavax by 26.7% in the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock valued at $32,643,000 after acquiring an additional 517,727 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of 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. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NVAX. BTIG Research began coverage on shares of Novavax in a research note on Friday, February 28th. They set a “buy” rating and a $19.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Novavax in a report on Tuesday, December 10th. Finally, TD Cowen raised shares of Novavax to a “hold” rating in a report on Thursday, February 27th. One equities 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.00.

Insider Activity

In other news, Director James F. Young sold 5,400 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total value of $43,200.00. Following the completion of the sale, the director now owns 51,760 shares of the company’s stock, valued at approximately $414,080. The trade was a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Novavax Stock Performance

Shares of NASDAQ NVAX opened at $7.91 on Thursday. Novavax, Inc. has a 1 year low of $3.81 and a 1 year high of $23.86. The firm’s 50 day moving average price is $8.32 and its 200 day moving average price is $9.58. The firm has a market cap of $1.27 billion, a P/E ratio of -3.50, a price-to-earnings-growth ratio of 2.85 and a beta of 2.92.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.24. The company had revenue of $88.31 million during the quarter, compared to analyst estimates of $85.48 million. During the same quarter last year, the business earned ($1.44) EPS. As a group, equities analysts predict that Novavax, Inc. will post -1.46 EPS for the current year.

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.