Shah Capital Management Has $72.52 Million Stake in Novavax, Inc. $NVAX

Shah Capital Management boosted its holdings in shares of Novavax, Inc. (NASDAQ:NVAX) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,511,780 shares of the biopharmaceutical company’s stock after acquiring an additional 379,934 shares during the quarter. Novavax accounts for 14.1% of Shah Capital Management’s portfolio, making the stock its 3rd biggest holding. Shah Capital Management owned about 0.07% of Novavax worth $72,524,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NVAX. Bayforest Capital Ltd bought a new stake in shares of Novavax in the 1st quarter valued at about $404,000. Kingstone Capital Partners Texas LLC acquired a new position in Novavax during the second quarter valued at $1,016,000. California State Teachers Retirement System grew its stake in shares of Novavax by 12.3% during the 4th quarter. California State Teachers Retirement System now owns 135,486 shares of the biopharmaceutical company’s stock worth $1,089,000 after purchasing an additional 14,853 shares during the period. Park West Asset Management LLC purchased a new position in shares of Novavax in the 1st quarter valued at about $16,210,000. Finally, Rhumbline Advisers lifted its holdings in Novavax by 3.3% during the first quarter. Rhumbline Advisers now owns 215,413 shares of the biopharmaceutical company’s stock valued at $1,381,000 after purchasing an additional 6,949 shares in the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Stock Down 4.0%

NVAX opened at $9.08 on Tuesday. Novavax, Inc. has a 52 week low of $5.01 and a 52 week high of $13.77. The business has a 50 day moving average price of $8.18 and a two-hundred day moving average price of $7.25. The company has a quick ratio of 2.34, a current ratio of 2.36 and a debt-to-equity ratio of 5.93. The company has a market cap of $1.47 billion, a PE ratio of 3.98, a P/E/G ratio of 0.12 and a beta of 2.74.

Novavax (NASDAQ:NVAX) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.69. The business had revenue of $239.24 million for the quarter, compared to analyst estimates of $149.19 million. Novavax had a negative return on equity of 142.33% and a net margin of 39.20%.The company’s revenue for the quarter was down 42.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. As a group, research analysts anticipate that Novavax, Inc. will post -1.46 EPS for the current year.

Wall Street Analyst Weigh In

NVAX has been the topic of a number of recent research reports. Bank of America reissued an “underperform” rating and set a $7.00 price objective (down previously from $9.00) on shares of Novavax in a research note on Wednesday, August 20th. HC Wainwright started coverage on shares of Novavax in a research report on Thursday, August 28th. They set a “buy” rating and a $10.00 price objective for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Novavax in a report on Saturday, September 27th. Finally, Citigroup started coverage on shares of Novavax in a research note on Tuesday, June 17th. They issued a “sell” rating and a $6.00 price target for the company. Four research 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 company currently has a consensus rating of “Hold” and an average target price of $14.29.

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.