Wellington Management Group LLP Reduces Holdings in Novavax, Inc. (NASDAQ:NVAX)

Wellington Management Group LLP lowered its holdings in shares of Novavax, Inc. (NASDAQ:NVAX) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,538 shares of the biopharmaceutical company’s stock after selling 8,577 shares during the period. Wellington Management Group LLP’s holdings in Novavax were worth $519,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position 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 valued at $97,099,000 after buying an additional 1,621,772 shares during the last quarter. Barclays PLC raised its stake in Novavax by 73.9% during the 3rd quarter. Barclays PLC now owns 709,579 shares of the biopharmaceutical company’s stock worth $8,961,000 after acquiring an additional 301,627 shares during the period. Geode Capital Management LLC lifted its stake in shares of Novavax by 9.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company’s stock valued at $44,245,000 after buying an additional 304,159 shares in the last quarter. Franklin Resources Inc. boosted its stake 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 acquiring an additional 72,894 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Novavax by 0.4% in the 4th 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 period. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Novavax Stock Up 9.4 %

NVAX opened at $6.41 on Tuesday. The company has a market capitalization of $1.03 billion, a P/E ratio of -2.84, a PEG ratio of 2.85 and a beta of 3.15. Novavax, Inc. has a 52 week low of $3.81 and a 52 week high of $23.86. The stock’s fifty day moving average is $7.43 and its two-hundred day moving average is $8.75.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.24. The business had revenue of $88.31 million during the quarter, compared to the consensus estimate of $85.48 million. During the same period last year, the firm earned ($1.44) EPS. Equities analysts anticipate that Novavax, Inc. will post -1.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NVAX. TD Cowen upgraded Novavax to a “hold” rating in a research report on Thursday, February 27th. BTIG Research began coverage on shares of Novavax in a report on Friday, February 28th. They issued a “buy” rating and a $19.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.00.

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.