Massachusetts Financial Services Co. MA Buys 18,229 Shares of Novavax, Inc. (NASDAQ:NVAX)

Massachusetts Financial Services Co. MA grew its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 24.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 93,457 shares of the biopharmaceutical company’s stock after acquiring an additional 18,229 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Novavax were worth $1,180,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NVAX. American International Group Inc. boosted its stake in Novavax by 17.9% during the 1st quarter. American International Group Inc. now owns 55,832 shares of the biopharmaceutical company’s stock worth $267,000 after acquiring an additional 8,492 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Novavax by 17.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,065 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 8,128 shares during the period. California State Teachers Retirement System increased its position in shares of Novavax by 11.3% in the 1st quarter. California State Teachers Retirement System now owns 107,511 shares of the biopharmaceutical company’s stock valued at $514,000 after buying an additional 10,949 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Novavax in the 1st quarter valued at $172,000. Finally, Swedbank AB bought a new position in Novavax during the first quarter worth about $26,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Stock Down 1.5 %

Shares of NVAX opened at $8.62 on Thursday. Novavax, Inc. has a twelve month low of $3.53 and a twelve month high of $23.86. The stock has a market capitalization of $1.38 billion, a P/E ratio of -3.87 and a beta of 2.10. The company has a 50 day moving average of $10.64 and a 200-day moving average of $12.66.

Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. The business had revenue of $84.51 million during the quarter, compared to the consensus estimate 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 business posted ($1.26) EPS. On average, sell-side analysts anticipate that Novavax, Inc. will post -1.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NVAX has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Novavax in a report on Tuesday, November 12th. B. Riley reissued a “buy” rating and set a $26.00 target price (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group lowered their price objective on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.