Tekla Capital Management LLC Holds Position in Novavax, Inc. (NVAX)
Tekla Capital Management LLC held its position in Novavax, Inc. (NASDAQ:NVAX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 571,000 shares of the biopharmaceutical company’s stock at the end of the 2nd quarter. Tekla Capital Management LLC owned approximately 0.20% of Novavax worth $657,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its holdings in Novavax by 287.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 474,900 shares of the biopharmaceutical company’s stock valued at $546,000 after buying an additional 352,400 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Novavax in the 2nd quarter valued at approximately $1,852,000. JPMorgan Chase & Co. grew its holdings in Novavax by 41.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,708,105 shares of the biopharmaceutical company’s stock valued at $4,746,000 after buying an additional 1,095,388 shares during the last quarter. Creative Planning grew its holdings in Novavax by 45.7% in the 2nd quarter. Creative Planning now owns 472,198 shares of the biopharmaceutical company’s stock valued at $543,000 after buying an additional 148,139 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Novavax by 38.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 728,790 shares of the biopharmaceutical company’s stock valued at $933,000 after buying an additional 201,795 shares during the last quarter. 45.17% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director James F. Young sold 175,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $1.06, for a total value of $185,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.
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Shares of Novavax, Inc. (NASDAQ:NVAX) traded down 0.87% during mid-day trading on Friday, hitting $1.14. The company’s stock had a trading volume of 2,923,797 shares. The company has a 50-day moving average of $1.06 and a 200 day moving average of $1.09. Novavax, Inc. has a 1-year low of $0.73 and a 1-year high of $2.47. The company’s market cap is $330.49 million.
Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). The business had revenue of $6.70 million during the quarter, compared to analysts’ expectations of $6.15 million. Novavax had a negative return on equity of 787.38% and a negative net margin of 1,006.00%. The firm’s revenue for the quarter was up 168.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.29) earnings per share. On average, analysts expect that Novavax, Inc. will post ($0.62) EPS for the current year.
A number of analysts have issued reports on the company. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $2.00 target price on shares of Novavax in a report on Friday, July 21st. ValuEngine downgraded Novavax from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded Novavax from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Ladenburg Thalmann Financial Services upgraded Novavax from a “neutral” rating to a “buy” rating and set a $1.60 price objective for the company in a research report on Wednesday, August 9th. Finally, BidaskClub upgraded Novavax from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $3.05.
Novavax Company Profile
Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.
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