HighTower Advisors LLC Raises Position in Novavax, Inc. (NVAX)

HighTower Advisors LLC increased its stake in Novavax, Inc. (NASDAQ:NVAX) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,000 shares of the biopharmaceutical company’s stock after buying an additional 5,250 shares during the period. HighTower Advisors LLC owned approximately 0.05% of Novavax worth $184,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Metropolitan Life Insurance Co. NY increased its stake in shares of Novavax by 2.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 203,996 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 5,704 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Novavax by 2.7% in the first quarter. Wells Fargo & Company MN now owns 343,714 shares of the biopharmaceutical company’s stock worth $440,000 after buying an additional 8,966 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Novavax by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 1,215,100 shares of the biopharmaceutical company’s stock worth $1,555,000 after buying an additional 10,347 shares during the last quarter. American International Group Inc. increased its stake in shares of Novavax by 7.1% in the first quarter. American International Group Inc. now owns 166,252 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 10,965 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Novavax by 4.2% in the fourth quarter. Teachers Advisors LLC now owns 455,686 shares of the biopharmaceutical company’s stock worth $574,000 after buying an additional 18,519 shares during the last quarter. 50.16% of the stock is owned by hedge funds and other institutional investors.

Novavax, Inc. (NASDAQ NVAX) opened at 0.9983 on Friday. The stock has a 50 day moving average price of $1.15 and a 200-day moving average price of $1.15. Novavax, Inc. has a 12-month low of $0.73 and a 12-month high of $8.49. The company’s market capitalization is $289.41 million.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). Novavax had a negative net margin of 1,006.00% and a negative return on equity of 787.38%. The firm had revenue of $6.70 million during the quarter, compared to the consensus estimate of $6.15 million. During the same quarter in the previous year, the firm posted ($0.29) EPS. The company’s revenue for the quarter was up 168.0% compared to the same quarter last year. Equities analysts predict that Novavax, Inc. will post ($0.62) EPS for the current fiscal year.

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A number of analysts recently commented on the company. Zacks Investment Research downgraded Novavax from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $1.50 price target on shares of Novavax in a research report on Wednesday, July 26th. BidaskClub raised Novavax from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Ladenburg Thalmann Financial Services raised Novavax from a “neutral” rating to a “buy” rating and set a $1.60 price target for the company in a research report on Wednesday. Finally, Cantor Fitzgerald set a $2.00 price target on Novavax and gave the company a “hold” rating in a research report on Monday, May 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Novavax has a consensus rating of “Hold” and a consensus price target of $5.24.

About Novavax

Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.

Institutional Ownership by Quarter for Novavax (NASDAQ:NVAX)

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