Victory Capital Management Inc. Buys 2,072 Shares of Novavax, Inc. (NASDAQ:NVAX)

Victory Capital Management Inc. raised its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 12.0% in the third quarter, Holdings Channel reports. The fund owned 19,292 shares of the biopharmaceutical company’s stock after acquiring an additional 2,072 shares during the period. Victory Capital Management Inc.’s holdings in Novavax were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVAX. Swedbank AB bought a new position in shares of Novavax during the first quarter valued at $26,000. Banque Cantonale Vaudoise increased its stake in shares of Novavax by 500.0% in 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 in the last quarter. Amalgamated Bank increased its stake in shares of Novavax by 26.9% in 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 in the last quarter. Signaturefd LLC increased its stake in shares of Novavax by 214.5% in 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Novavax by 38.1% in 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 in the last quarter. 53.04% of the stock is owned by institutional investors.

Novavax Stock Performance

NASDAQ NVAX opened at $8.72 on Friday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -3.86 and a beta of 2.10. The stock’s 50 day moving average price is $10.40 and its two-hundred day moving average price is $12.57. 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 results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned ($1.26) EPS. On average, equities research analysts forecast that Novavax, Inc. will post -1.4 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. B. Riley restated a “buy” rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. HC Wainwright restated a “buy” rating and issued a $19.00 target price on shares of Novavax in a research note on Tuesday, November 12th. Jefferies Financial Group lowered their target price on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their target price on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.83.

Novavax 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.