Novavax, Inc. (NASDAQ:NVAX) Shares Acquired by Shah Capital Management

Shah Capital Management boosted its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 13.6% in the fourth quarter, HoldingsChannel reports. The firm owned 11,148,846 shares of the biopharmaceutical company’s stock after purchasing an additional 1,333,305 shares during the quarter. Novavax makes up approximately 18.1% of Shah Capital Management’s holdings, making the stock its 2nd largest holding. Shah Capital Management owned about 0.07% of Novavax worth $89,637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in Novavax by 26.7% during the 3rd quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock valued at $97,099,000 after acquiring an additional 1,621,772 shares in the last quarter. Geode Capital Management LLC raised its stake in Novavax by 9.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company’s stock valued at $44,245,000 after acquiring an additional 304,159 shares in the last quarter. Bank of Montreal Can raised its stake in Novavax by 26.7% during the 3rd 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. Two Sigma Advisers LP raised its stake 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Novavax by 16.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company’s stock valued at $16,741,000 after acquiring an additional 187,548 shares in the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Price Performance

NVAX opened at $9.22 on Monday. Novavax, Inc. has a one year low of $3.53 and a one year high of $23.86. The stock’s fifty day moving average is $8.73 and its 200-day moving average is $10.91.

Novavax (NASDAQ:NVAX) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.07. The company had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. The firm’s revenue for the quarter was down 54.8% on a year-over-year basis. During the same period last year, the firm earned ($1.26) earnings per share. As a group, equities research analysts predict that Novavax, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Transactions at Novavax

In other news, Director Rachel K. King sold 4,150 shares of Novavax 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 transaction, the director now owns 14,770 shares in the company, valued at approximately $133,225.40. The trade was a 21.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James F. Young sold 5,400 shares of Novavax stock in a transaction 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 transaction, the director now owns 51,760 shares in the company, valued at $414,080. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,150 shares of company stock valued at $119,641 over the last three months. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

NVAX has been the topic of several recent analyst reports. Jefferies Financial Group cut their target price on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research note on Tuesday, December 10th. Finally, B. Riley reissued a “buy” rating and issued a $26.00 price objective (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Novavax currently has an average rating of “Hold” and a consensus 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.