Cibc World Markets Corp Invests $116,000 in Novavax, Inc. (NASDAQ:NVAX)

Cibc World Markets Corp purchased a new stake in Novavax, Inc. (NASDAQ:NVAX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,426 shares of the biopharmaceutical company’s stock, valued at approximately $116,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. E Fund Management Co. Ltd. grew its holdings in Novavax by 5.1% in the 4th quarter. E Fund Management Co. Ltd. now owns 25,340 shares of the biopharmaceutical company’s stock valued at $204,000 after buying an additional 1,219 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Novavax by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company’s stock valued at $3,509,000 after acquiring an additional 1,664 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Novavax by 12.0% in the third quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 2,072 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Novavax by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,965 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 3,174 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Novavax by 8.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 43,034 shares of the biopharmaceutical company’s stock worth $346,000 after purchasing an additional 3,236 shares during the period. Institutional investors and hedge funds own 53.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NVAX shares. HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Novavax in a research note on Tuesday, December 10th. TD Cowen upgraded Novavax to a “hold” rating in a research report 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 issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Novavax presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Novavax Stock Performance

NASDAQ:NVAX opened at $7.26 on Friday. The stock has a market capitalization of $1.17 billion, a P/E ratio of -3.21, a PEG ratio of 2.85 and a beta of 2.92. Novavax, Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $23.86. The company has a 50 day moving average price of $8.16 and a 200 day moving average price of $9.41.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data 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 firm had revenue of $88.31 million during the quarter, compared to analyst estimates of $85.48 million. During the same period in the previous year, the firm posted ($1.44) earnings per share. Research analysts forecast that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

Insider Transactions at Novavax

In related news, Director James F. Young sold 5,400 shares of Novavax stock in a transaction that occurred on 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 transaction, the director now owns 51,760 shares in the company, valued at approximately $414,080. The trade was a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.