Monaco Asset Management SAM Purchases 645,000 Shares of Novavax, Inc. $NVAX

Monaco Asset Management SAM boosted its position in Novavax, Inc. (NASDAQ:NVAX) by 161.3% during the 4th quarter, Holdings Channel reports. The fund owned 1,045,000 shares of the biopharmaceutical company’s stock after buying an additional 645,000 shares during the period. Novavax makes up 1.2% of Monaco Asset Management SAM’s portfolio, making the stock its 19th largest holding. Monaco Asset Management SAM’s holdings in Novavax were worth $7,022,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Novavax by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company’s stock worth $103,961,000 after acquiring an additional 275,802 shares in the last quarter. Shah Capital Management lifted its holdings in shares of Novavax by 23.3% in the fourth quarter. Shah Capital Management now owns 14,558,780 shares of the biopharmaceutical company’s stock valued at $97,835,000 after purchasing an additional 2,747,000 shares in the last quarter. UBS Group AG lifted its holdings in shares of Novavax by 40.3% in the fourth quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock valued at $32,890,000 after purchasing an additional 1,405,981 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Novavax by 0.5% in the third quarter. Bank of America Corp DE now owns 3,101,074 shares of the biopharmaceutical company’s stock valued at $26,886,000 after purchasing an additional 15,685 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Novavax by 162.6% in the third quarter. Allianz Asset Management GmbH now owns 1,409,734 shares of the biopharmaceutical company’s stock valued at $12,222,000 after purchasing an additional 872,987 shares in the last quarter. Institutional investors own 53.04% of the company’s stock.

Novavax Stock Performance

Shares of NVAX opened at $10.97 on Monday. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -18.91 and a beta of 2.45. The stock has a 50 day moving average of $8.86 and a 200 day moving average of $8.37. Novavax, Inc. has a 12 month low of $6.13 and a 12 month high of $11.97.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.19. The company had revenue of $118.90 million during the quarter, compared to the consensus estimate of $79.81 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.Novavax’s revenue was down 79.0% on a year-over-year basis. During the same period last year, the business posted $2.93 earnings per share. As a group, equities research analysts predict that Novavax, Inc. will post -0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NVAX shares. TD Cowen raised their target price on Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Novavax from a “sell” rating to a “hold” rating in a report on Sunday. Jefferies Financial Group restated a “buy” rating on shares of Novavax in a report on Thursday, March 12th. HC Wainwright raised their target price on Novavax from $11.00 to $16.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Weiss Ratings lowered Novavax from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.13.

Novavax Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.