Allspring Global Investments Holdings LLC Grows Position in Novavax, Inc. (NASDAQ:NVAX)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Novavax, Inc. (NASDAQ:NVAX – Get Rating) by 197.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,598 shares of the biopharmaceutical company’s stock after purchasing an additional 16,336 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Novavax were worth $447,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its stake in Novavax by 23.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 55,588 shares of the biopharmaceutical company’s stock worth $1,012,000 after buying an additional 10,542 shares in the last quarter. Equitec Proprietary Markets LLC boosted its holdings in shares of Novavax by 10,200.0% in the 3rd quarter. Equitec Proprietary Markets LLC now owns 10,300 shares of the biopharmaceutical company’s stock worth $187,000 after purchasing an additional 10,200 shares in the last quarter. B. Riley Wealth Management Inc. boosted its holdings in shares of Novavax by 22.0% in the 2nd quarter. B. Riley Wealth Management Inc. now owns 5,044 shares of the biopharmaceutical company’s stock worth $259,000 after purchasing an additional 909 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Novavax by 83.3% during the 2nd quarter. Captrust Financial Advisors now owns 6,703 shares of the biopharmaceutical company’s stock valued at $345,000 after buying an additional 3,047 shares in the last quarter. Finally, ExodusPoint Capital Management LP lifted its position in Novavax by 212.8% in the 2nd quarter. ExodusPoint Capital Management LP now owns 21,296 shares of the biopharmaceutical company’s stock worth $1,095,000 after buying an additional 14,487 shares during the last quarter. 45.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Novavax in a research report on Friday, December 2nd. They set a “hold” rating on the stock. StockNews.com upgraded shares of Novavax from a “sell” rating to a “hold” rating in a research report on Saturday, November 19th. HC Wainwright cut their price target on shares of Novavax from $207.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, December 30th. Cowen decreased their price objective on Novavax to $55.00 in a report on Thursday, October 13th. Finally, B. Riley dropped their target price on Novavax from $74.00 to $37.00 and set a “buy” rating for the company in a report on Monday, January 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $92.50.

Novavax Trading Up 3.2 %

Shares of NASDAQ:NVAX opened at $11.92 on Tuesday. The company has a 50-day moving average price of $13.99 and a 200-day moving average price of $27.26. The company has a market cap of $935.77 million, a price-to-earnings ratio of -0.69 and a beta of 1.89. Novavax, Inc. has a 12 month low of $8.75 and a 12 month high of $101.39.

Novavax (NASDAQ:NVAX – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($2.15) EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($4.36). The business had revenue of $734.58 million during the quarter, compared to analyst estimates of $555.50 million. Novavax’s revenue was up 310.7% compared to the same quarter last year. During the same period last year, the firm earned ($4.31) earnings per share. As a group, research analysts forecast that Novavax, Inc. will post -7.49 EPS for the current fiscal year.

About Novavax

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Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.