Bayforest Capital Ltd Purchases New Stake 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 shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) in the first quarter, according to its most recent 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 hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanofi bought a new stake in Novavax during the 4th quarter valued at $55,319,000. Park West Asset Management LLC bought a new stake in Novavax during the 1st quarter valued at $16,210,000. Northern Trust Corp raised its holdings in Novavax by 6.1% during the 4th quarter. Northern Trust Corp now owns 1,451,715 shares of the biopharmaceutical company's stock valued at $11,672,000 after buying an additional 83,503 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Novavax by 289.0% during the 4th quarter. BNP Paribas Financial Markets now owns 556,832 shares of the biopharmaceutical company's stock valued at $4,477,000 after buying an additional 413,676 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in Novavax during the 1st quarter valued at $3,280,000. 53.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. HC Wainwright assumed coverage on shares of Novavax in a research report on Thursday, August 28th. They set a "buy" rating and a $10.00 price objective on the stock. B. Riley reissued a "buy" rating on shares of Novavax in a research report on Monday, May 19th. Citigroup assumed coverage on shares of Novavax in a research report on Tuesday, June 17th. They set a "sell" rating and a $6.00 price objective on the stock. Finally, Bank of America reissued an "underperform" rating and set a $7.00 price objective (down from $9.00) on shares of Novavax in a research report on Wednesday, August 20th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $14.29.

Novavax Price Performance

NASDAQ:NVAX opened at $7.96 on Thursday. The firm's 50-day moving average price is $7.60 and its 200-day moving average price is $7.15. The company has a market capitalization of $1.29 billion, a PE ratio of 3.49, a P/E/G ratio of 0.10 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, Inc. has a 1-year low of $5.01 and a 1-year high of $15.22.

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

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.

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