NewEdge Wealth LLC Buys 70,117 Shares of Novavax, Inc. (NASDAQ:NVAX)

NewEdge Wealth LLC grew its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 70.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,117 shares of the biopharmaceutical company’s stock after purchasing an additional 70,117 shares during the period. NewEdge Wealth LLC owned approximately 0.11% of Novavax worth $1,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of NVAX. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 worth $77,000 after purchasing an additional 1,598 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Novavax by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company’s stock worth $3,509,000 after acquiring an additional 1,664 shares in the last quarter. Victory Capital Management Inc. lifted its position in Novavax by 12.0% during the 3rd quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock valued at $244,000 after acquiring an additional 2,072 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Novavax by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,965 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 3,174 shares in the last quarter. Finally, Spire Wealth Management bought a new stake in Novavax during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Insider Buying and Selling

In related news, Director Rachel K. King sold 4,150 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $9.02, for a total value of $37,433.00. Following the completion of the transaction, the director now owns 14,770 shares of the company’s stock, valued at approximately $133,225.40. This represents a 21.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James F. Young sold 4,600 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $8.48, for a total value of $39,008.00. Following the completion of the transaction, the director now directly owns 57,160 shares of the company’s stock, valued at approximately $484,716.80. This trade represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,150 shares of company stock valued at $119,641. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NVAX shares. HC Wainwright reiterated a “buy” rating and set a $19.00 target price on shares of Novavax in a report on Tuesday, December 10th. BTIG Research began coverage on Novavax in a research report on Friday. They set a “buy” rating and a $19.00 price objective for the company. Finally, TD Cowen raised Novavax to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.00.

Novavax Trading Up 18.0 %

NVAX stock opened at $8.33 on Friday. The stock’s 50 day simple moving average is $8.51 and its 200 day simple moving average is $9.98. Novavax, Inc. has a 12-month low of $3.81 and a 12-month high of $23.86. The stock has a market capitalization of $1.33 billion, a PE ratio of -3.69, a price-to-earnings-growth ratio of 2.85 and a beta of 2.14.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.24. The business had revenue of $88.31 million for the quarter, compared to the consensus estimate of $85.48 million. During the same period in the previous year, the company earned ($1.44) earnings per share. On average, research analysts predict that Novavax, Inc. will post -1.46 earnings per share for the current year.

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.