Raymond James Financial Inc. Invests $544,000 in Novavax, Inc. (NASDAQ:NVAX)

Raymond James Financial Inc. acquired a new stake in shares of Novavax, Inc. (NASDAQ:NVAX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 67,644 shares of the biopharmaceutical company’s stock, valued at approximately $544,000.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Novavax by 0.4% in the fourth 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. China Universal Asset Management Co. Ltd. lifted its stake in shares of Novavax by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,965 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 3,174 shares in the last quarter. Spire Wealth Management acquired a new position in shares of Novavax during the 4th quarter worth approximately $29,000. KBC Group NV grew its holdings in Novavax by 97.0% in the 4th quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 3,917 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Novavax by 0.4% during the fourth quarter. SG Americas Securities LLC now owns 1,158,967 shares of the biopharmaceutical company’s stock worth $9,318,000 after purchasing an additional 4,691 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors.

Novavax Trading Up 4.8 %

Shares of Novavax stock opened at $6.54 on Tuesday. Novavax, Inc. has a twelve month low of $3.81 and a twelve month high of $23.86. The stock has a market capitalization of $1.05 billion, a P/E ratio of -2.89, a PEG ratio of 2.85 and a beta of 3.15. The business’s fifty day moving average price is $7.79 and its 200 day moving average price is $9.04.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data 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 firm had revenue of $88.31 million during the quarter, compared to analyst estimates of $85.48 million. During the same period last year, the business earned ($1.44) EPS. As a group, sell-side analysts predict that Novavax, Inc. will post -1.46 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. TD Cowen raised Novavax to a “hold” rating in a research note on Thursday, February 27th. BTIG Research began coverage on Novavax in a report on Friday, February 28th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Novavax in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.00.

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.