Zurcher Kantonalbank Zurich Cantonalbank Has $758,000 Holdings in Novavax, Inc. (NASDAQ:NVAX)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Novavax, Inc. (NASDAQ:NVAX) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,218 shares of the biopharmaceutical company’s stock after buying an additional 5,292 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Novavax were worth $758,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Novavax by 16.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company’s stock worth $16,741,000 after acquiring an additional 187,548 shares during the period. Bank of Montreal Can boosted its holdings in shares of Novavax by 26.7% during the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock worth $32,643,000 after acquiring an additional 517,727 shares during the period. State Street Corp boosted its holdings in shares of Novavax by 26.7% during the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after acquiring an additional 1,621,772 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Novavax by 300.4% during the third quarter. Franklin Resources Inc. now owns 97,162 shares of the biopharmaceutical company’s stock worth $1,226,000 after acquiring an additional 72,894 shares during the period. Finally, Shah Capital Management boosted its holdings in shares of Novavax by 13.6% during the fourth quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company’s stock worth $89,637,000 after acquiring an additional 1,333,305 shares during the period. Institutional investors and hedge funds own 53.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVAX. BTIG Research began coverage on Novavax in a report on Friday, February 28th. They set a “buy” rating and a $19.00 price objective for the company. TD Cowen upgraded Novavax to a “hold” rating in a research note on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Novavax in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.00.

Novavax Trading Down 1.6 %

Shares of NVAX stock opened at $7.60 on Friday. The stock has a market cap of $1.22 billion, a P/E ratio of -3.36, a price-to-earnings-growth ratio of 2.85 and a beta of 2.92. The stock has a 50 day simple moving average of $8.25 and a 200 day simple moving average of $9.53. Novavax, Inc. has a 1 year low of $3.81 and a 1 year high of $23.86.

Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the company earned ($1.44) earnings per share. Analysts forecast that Novavax, Inc. will post -1.46 EPS for the current year.

Insiders Place Their Bets

In other news, Director James F. Young sold 5,400 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total transaction of $43,200.00. Following the completion of the transaction, the director now directly owns 51,760 shares in the company, valued at approximately $414,080. This represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.