Novavax (NASDAQ:NVAX) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Novavax (NASDAQ:NVAX) in a research report released on Tuesday morning,Benzinga reports. They currently have a $19.00 target price on the biopharmaceutical company’s stock.

A number of other research analysts also recently issued reports on NVAX. Jefferies Financial Group cut their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. B. Riley reiterated a “buy” rating and issued a $26.00 price target (up from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.83.

Novavax Stock Down 6.1 %

Shares of Novavax stock opened at $8.46 on Tuesday. The stock’s fifty day moving average is $11.61 and its 200 day moving average is $12.41. Novavax has a one year low of $3.53 and a one year high of $23.86.

Hedge Funds Weigh In On Novavax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. Shah Capital Management increased its stake in Novavax by 19.0% in the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after acquiring an additional 1,544,263 shares during the last quarter. Farallon Capital Management LLC bought a new stake in Novavax in the first quarter worth $5,406,000. Renaissance Technologies LLC purchased a new stake in Novavax during the second quarter valued at $14,055,000. SG Americas Securities LLC lifted its position in Novavax by 940.7% during the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock valued at $14,579,000 after purchasing an additional 1,043,363 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Novavax in the 2nd quarter worth $4,592,000. 53.04% of the stock is owned by institutional investors.

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.