Bayforest Capital Ltd Buys New Shares in Novavax, Inc. $NVAX

Key Points

• Bayforest Capital Ltd has acquired a new stake in Novavax, purchasing 62,983 shares valued at approximately $404,000 in Q1.
• Several institutional investors increased or acquired new positions in Novavax, with 53.04% of shares now held by institutional investors.
• Analysts have varying opinions on Novavax, setting price targets ranging from $6.00 to $14.29, with a consensus rating of "Hold."

Bayforest Capital Ltd purchased a new stake in Novavax, Inc. (NASDAQ:NVAX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 62,983 shares of the biopharmaceutical company's stock, valued at approximately $404,000.

A number of other large investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Novavax by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company's stock worth $678,000 after buying an additional 2,750 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Novavax by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 33,169 shares of the biopharmaceutical company's stock valued at $213,000 after acquiring an additional 2,780 shares during the period. GF Fund Management CO. LTD. acquired a new position in Novavax in the fourth quarter valued at about $27,000. Monaco Asset Management SAM grew its stake in Novavax by 1.8% in the first quarter. Monaco Asset Management SAM now owns 290,000 shares of the biopharmaceutical company's stock valued at $1,859,000 after acquiring an additional 5,000 shares during the period. Finally, Federated Hermes Inc. grew its stake in Novavax by 11.1% in the first quarter. Federated Hermes Inc. now owns 56,124 shares of the biopharmaceutical company's stock valued at $360,000 after acquiring an additional 5,618 shares during the period. Institutional investors and hedge funds own 53.04% of the company's stock.

Novavax Stock Performance

Shares of Novavax stock traded up $0.45 on Tuesday, reaching $8.53. 2,975,118 shares of the company traded hands, compared to its average volume of 6,663,053. Novavax, Inc. has a 52 week low of $5.01 and a 52 week high of $15.22. The company has a 50 day moving average of $7.69 and a 200 day moving average of $7.16. The firm has a market capitalization of $1.39 billion, a PE ratio of 3.75, a PEG ratio of 0.11 and a beta of 2.68. The company has a debt-to-equity ratio of 5.93, a current ratio of 2.36 and a quick ratio of 2.34.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.69. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. The business had revenue of $239.24 million for the quarter, compared to analysts' expectations of $149.19 million. During the same period in the prior year, the company posted $0.99 EPS. The business's revenue for the quarter was down 42.4% compared to the same quarter last year. Equities analysts forecast that Novavax, Inc. will post -1.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NVAX has been the subject of a number of research reports. Bank of America reiterated an "underperform" rating and set a $7.00 target price (down previously from $9.00) on shares of Novavax in a report on Wednesday, August 20th. B. Riley restated a "buy" rating on shares of Novavax in a research report on Monday, May 19th. HC Wainwright started coverage on shares of Novavax in a research report on Thursday, August 28th. They issued a "buy" rating and a $10.00 price target for the company. 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 objective on the stock. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Novavax has a consensus rating of "Hold" and an average target price of $14.29.

Novavax Profile

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.