Bayforest Capital Ltd Invests $404,000 in Novavax, Inc. (NASDAQ:NVAX)

Key Points

• Bayforest Capital Ltd has acquired a new position in Novavax, purchasing 62,983 shares for approximately $404,000.
• Several hedge funds have increased their stakes in Novavax, with institutional investors currently holding 53.04% of the company's stock.
• Analysts have mixed opinions on Novavax, with current ratings indicating a consensus of "Hold" and an average price target of $15.86.

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanofi acquired a new position in shares of Novavax during the 4th quarter worth about $55,319,000. Deep Track Capital LP acquired a new position in shares of Novavax in the 4th quarter valued at approximately $16,080,000. BNP Paribas Financial Markets grew its position in shares of Novavax by 289.0% in the 4th quarter. BNP Paribas Financial Markets now owns 556,832 shares of the biopharmaceutical company's stock valued at $4,477,000 after purchasing an additional 413,676 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Novavax in the 4th quarter valued at approximately $2,761,000. Finally, ExodusPoint Capital Management LP bought a new stake in Novavax in the 4th quarter valued at approximately $2,687,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Stock Up 2.7%

Shares of NASDAQ NVAX traded up $0.18 during trading hours on Monday, hitting $6.74. The company had a trading volume of 1,970,295 shares, compared to its average volume of 6,392,684. The stock has a market capitalization of $1.09 billion, a P/E ratio of 2.55, a price-to-earnings-growth ratio of 0.08 and a beta of 2.50. Novavax, Inc. has a 1-year low of $5.01 and a 1-year high of $15.22. The firm's 50 day moving average is $6.94 and its 200-day moving average is $7.22.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $2.22. Novavax had a negative return on equity of 115.51% and a net margin of 38.14%. The business had revenue of $666.66 million for the quarter, compared to analysts' expectations of $204.08 million. During the same quarter in the prior year, the business earned ($1.05) EPS. The firm's revenue for the quarter was up 610.3% on a year-over-year basis. On average, sell-side analysts predict that Novavax, Inc. will post -1.46 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. B. Riley restated a "buy" rating on shares of Novavax in a research note on Monday, May 19th. JPMorgan Chase & Co. cut their target price on Novavax from $9.00 to $7.00 and set an "underweight" rating on the stock in a research note on Friday, May 9th. Bank of America cut their target price on Novavax from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 22nd. Finally, Citigroup initiated coverage on Novavax in a research note on Tuesday, June 17th. They issued a "sell" rating and a $6.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Novavax has a consensus rating of "Hold" and a consensus price target of $15.86.

Novavax Company 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.