Novavax, Inc. $NVAX Stock Holdings Lifted by Shah Capital Management

Shah Capital Management increased its position in Novavax, Inc. (NASDAQ:NVAX) by 2.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,845,097 shares of the biopharmaceutical company’s stock after buying an additional 286,317 shares during the period. Novavax comprises approximately 23.2% of Shah Capital Management’s holdings, making the stock its 2nd largest position. Shah Capital Management owned 9.11% of Novavax worth $120,839,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Farallon Capital Management LLC boosted its stake in shares of Novavax by 4,775.0% in the third quarter. Farallon Capital Management LLC now owns 780,000 shares of the biopharmaceutical company’s stock worth $6,763,000 after acquiring an additional 764,000 shares during the period. UBS Group AG grew its position in shares of Novavax by 40.3% during the fourth quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock worth $32,890,000 after purchasing an additional 1,405,981 shares in the last quarter. Vanguard Group Inc. raised its stake in Novavax by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company’s stock valued at $103,961,000 after purchasing an additional 275,802 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Novavax by 107.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 199,106 shares of the biopharmaceutical company’s stock valued at $1,338,000 after purchasing an additional 102,945 shares during the period. Finally, Monaco Asset Management SAM lifted its holdings in Novavax by 161.3% in the 4th quarter. Monaco Asset Management SAM now owns 1,045,000 shares of the biopharmaceutical company’s stock worth $7,022,000 after purchasing an additional 645,000 shares in the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. TD Cowen upped their price target on Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research report on Thursday, June 11th. Weiss Ratings downgraded shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Jefferies Financial Group restated a “buy” rating on shares of Novavax in a research report on Thursday, March 12th. Finally, Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a research note on Sunday, May 31st. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Novavax presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Novavax Stock Performance

NVAX stock opened at $9.42 on Wednesday. The firm has a fifty day moving average price of $9.17 and a 200 day moving average price of $8.75. Novavax, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $11.97. The firm has a market cap of $1.55 billion, a PE ratio of -16.24 and a beta of 2.45.

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

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.