Federated Hermes Inc. Buys 2,124 Shares of Novavax, Inc. (NASDAQ:NVAX)

Federated Hermes Inc. boosted its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 4.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,506 shares of the biopharmaceutical company’s stock after acquiring an additional 2,124 shares during the quarter. Federated Hermes Inc.’s holdings in Novavax were worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Franklin Resources Inc. grew its holdings in shares of Novavax by 300.4% in the third quarter. Franklin Resources Inc. now owns 97,162 shares of the biopharmaceutical company’s stock worth $1,226,000 after purchasing an additional 72,894 shares during the last quarter. Shah Capital Management increased its position in shares of Novavax by 13.6% in the fourth quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company’s stock valued at $89,637,000 after acquiring an additional 1,333,305 shares during the period. Wellington Management Group LLP bought a new position in shares of Novavax during the third quarter valued at about $923,000. Arizona State Retirement System grew its stake in shares of Novavax by 14.9% in the fourth quarter. Arizona State Retirement System now owns 41,793 shares of the biopharmaceutical company’s stock worth $336,000 after purchasing an additional 5,407 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Novavax by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company’s stock valued at $3,509,000 after purchasing an additional 1,664 shares during the period. 53.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NVAX shares. TD Cowen raised Novavax to a “hold” rating in a research note on Thursday, February 27th. BTIG Research initiated coverage on shares of Novavax in a report on Friday, February 28th. They issued a “buy” rating and a $19.00 price objective for the company. One investment 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.00.

Novavax Price Performance

NASDAQ:NVAX opened at $6.00 on Friday. Novavax, Inc. has a 1-year low of $3.81 and a 1-year high of $23.86. The firm’s 50-day moving average price is $7.31 and its 200-day moving average price is $8.67. The company has a market capitalization of $965.06 million, a PE ratio of -2.65, a P/E/G ratio of 2.85 and a beta of 3.15.

Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.24. The business had revenue of $88.31 million for the quarter, compared to analysts’ expectations of $85.48 million. During the same quarter in the previous year, the business posted ($1.44) earnings per share. Equities analysts anticipate that Novavax, Inc. will post -1.46 EPS for the current fiscal year.

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.