The Manufacturers Life Insurance Company Has $591,000 Stock Position in Novavax, Inc. (NASDAQ:NVAX)

The Manufacturers Life Insurance Company lowered its position in shares of Novavax, Inc. (NASDAQ:NVAX) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,508 shares of the biopharmaceutical company’s stock after selling 6,275 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Novavax were worth $591,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in Novavax by 300.4% during the 3rd 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 last quarter. Shah Capital Management boosted its position in Novavax by 13.6% during the 4th 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 last quarter. Arizona State Retirement System boosted its position in Novavax by 14.9% during the 4th quarter. Arizona State Retirement System now owns 41,793 shares of the biopharmaceutical company’s stock worth $336,000 after acquiring an additional 5,407 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 worth $3,509,000 after acquiring an additional 1,664 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Novavax by 28.8% during the 4th quarter. JPMorgan Chase & Co. now owns 76,576 shares of the biopharmaceutical company’s stock worth $616,000 after acquiring an additional 17,101 shares during the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. BTIG Research assumed coverage on Novavax in a research report on Friday, February 28th. They set a “buy” rating and a $19.00 price target for the company. TD Cowen raised Novavax to a “hold” rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. cut their price objective on Novavax from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.00.

Novavax Trading Up 7.0%

NASDAQ NVAX opened at $6.73 on Friday. The company has a market cap of $1.09 billion, a PE ratio of -2.98, a PEG ratio of 2.85 and a beta of 3.21. Novavax, Inc. has a 12 month low of $5.01 and a 12 month high of $23.86. The stock has a 50 day moving average of $6.69 and a 200-day moving average of $7.91.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $2.22. The business had revenue of $666.66 million for the quarter, compared to analyst estimates of $204.08 million. During the same period in the prior year, the business earned ($1.05) EPS. The company’s revenue for the quarter was up 610.3% compared to the same quarter last year. As a group, sell-side analysts predict that Novavax, Inc. will post -1.46 EPS for the current fiscal 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.