Which of These Two Trending Stocks Hedge Funds Like More?

Novavax, Inc. (NASDAQ:NVAX), on the other hand, announced that its respiratory syncytial virus (RSV) vaccine has shown to be safe for pregnant women and provided immunization to the patients and their unborn children. The results of the study appeared to have fazed the market in Tuesday trading, leading to the stock rising nearly 10% in pre-market. The vaccine at the center of the news aims to treat RSV, which was discovered in humans in 1957. Another vaccine was trialed nearly half a century ago, but it resulted in the death of two toddlers, Reuters reported. The virus primarily affects children and elders and represents a market opportunity of $1 billion in the U.S. and $2 billion outside of the U.S., the source said, citing data from Wedbush Securities. Additionally, the Bill & Melinda Gates Foundation has also given an $89 million grant to Novavax for a Phase 3 study of the vaccine in pregnant women to be conducted in the first trimester of 2016.

Novavax, Inc. (NASDAQ:NVAX)’s announcement and the positive reaction of the market is parallel to how hedge funds are treating the stock. There were 17 hedge funds long Novavax at the end of June, one less than the first quarter, according to our database. However, the value of these funds’ positions went up by 64.65% on the quarter to $119.07 million, equal to 4% of the company, fueled by a 34.70% increase of the stock in the second quarter. Julian and Felix Bakers’ Baker Bros. Advisors owned 1.95 million shares of Novavax at the end of June.

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