Bank of Montreal Can Purchases 517,727 Shares of Novavax, Inc. (NASDAQ:NVAX)

Bank of Montreal Can boosted its position in shares of Novavax, Inc. (NASDAQ:NVAX) by 26.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,454,325 shares of the biopharmaceutical company’s stock after acquiring an additional 517,727 shares during the period. Bank of Montreal Can’s holdings in Novavax were worth $32,643,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVAX. Banque Cantonale Vaudoise raised its position in shares of Novavax by 500.0% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 2,500 shares during the last quarter. Amalgamated Bank raised its position in shares of Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 1,036 shares during the last quarter. Swedbank AB bought a new stake in shares of Novavax during the first quarter valued at approximately $26,000. Signaturefd LLC raised its position in shares of Novavax by 214.5% during the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 3,874 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Novavax by 38.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 1,598 shares during the last quarter. Institutional investors own 53.04% of the company’s stock.

Novavax Stock Down 1.5 %

NASDAQ NVAX opened at $8.62 on Friday. The company has a fifty day moving average of $10.49 and a two-hundred day moving average of $12.60. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.81 and a beta of 2.10. Novavax, Inc. has a 52 week low of $3.53 and a 52 week high of $23.86.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.07. The firm had revenue of $84.51 million for the quarter, compared to analysts’ expectations of $65.80 million. The firm’s quarterly revenue was down 54.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.26) earnings per share. Equities research analysts anticipate that Novavax, Inc. will post -1.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research report on Tuesday, November 12th. B. Riley reissued a “buy” rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group cut their target price on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.83.

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.