Los Angeles Capital Management LLC Takes Position in Novavax, Inc. (NASDAQ:NVAX)

Los Angeles Capital Management LLC acquired a new stake in shares of Novavax, Inc. (NASDAQ:NVAX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,112 shares of the biopharmaceutical company’s stock, valued at approximately $368,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVAX. Shah Capital Management increased its holdings in shares of Novavax by 19.0% during the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock valued at $122,322,000 after acquiring an additional 1,544,263 shares in the last quarter. Farallon Capital Management LLC bought a new stake in Novavax during the first quarter worth $5,406,000. Renaissance Technologies LLC bought a new stake in Novavax during the second quarter worth $14,055,000. SG Americas Securities LLC grew its holdings in Novavax by 940.7% during the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock worth $14,579,000 after buying an additional 1,043,363 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Novavax during the second quarter worth $4,592,000. Institutional investors own 53.04% of the company’s stock.

Novavax Trading Up 1.4 %

NVAX stock opened at $7.32 on Monday. The stock’s fifty day simple moving average is $11.26 and its two-hundred day simple moving average is $12.45. Novavax, Inc. has a 1-year low of $3.53 and a 1-year high of $23.86. The stock has a market cap of $1.17 billion, a P/E ratio of -3.24 and a beta of 2.10.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates 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. During the same period in the prior year, the company earned ($1.26) EPS. The firm’s quarterly revenue was down 54.8% on a year-over-year basis. As a group, analysts forecast that Novavax, Inc. will post -1.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

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