Edgestream Partners L.P. Makes New $4.23 Million Investment in Novavax, Inc. $NVAX

Key Points

• Edgestream Partners L.P. purchased 520,135 Novavax shares worth approximately $4.23 million, representing about 0.32% of the company. Institutional investors and hedge funds collectively own 53.04% of Novavax.
• Analyst sentiment is mixed: ratings range from strong buy to sell, with MarketBeat reporting an overall “Hold” consensus and a $13.00 target price.
• Novavax shares opened at $7.32, while the company reported better-than-expected quarterly results of a $0.06 loss per share and $118.9 million in revenue, though revenue fell 79% year over year.

Edgestream Partners L.P. purchased a new stake in Novavax, Inc. (NASDAQ:NVAX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 520,135 shares of the biopharmaceutical company's stock, valued at approximately $4,234,000. Edgestream Partners L.P. owned approximately 0.32% of Novavax at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new stake in Novavax in the 4th quarter valued at approximately $33,000. Quarry LP bought a new stake in Novavax in the 3rd quarter valued at approximately $33,000. Duncker Streett & Co. Inc. boosted its position in Novavax by 917.3% during the 1st quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company's stock worth $35,000 after acquiring an additional 3,825 shares during the last quarter. KBC Group NV boosted its position in Novavax by 34.9% during the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 1,229 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Novavax during the 2nd quarter worth approximately $52,000. 53.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BTIG Research reiterated a "buy" rating and issued a $19.00 price objective on shares of Novavax in a report on Thursday, June 11th. B. Riley Financial restated a "buy" rating on shares of Novavax in a report on Thursday, April 9th. Zacks Research raised shares of Novavax from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Weiss Ratings downgraded shares of Novavax from a "hold (c-)" rating to a "sell (d)" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut Novavax from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $13.00.

Novavax Stock Down 1.6%

Shares of Novavax stock opened at $7.32 on Friday. The stock has a market cap of $1.20 billion, a P/E ratio of -12.62 and a beta of 2.43. Novavax, Inc. has a 12-month low of $6.20 and a 12-month high of $11.97. The business's 50 day moving average is $9.00 and its 200-day moving average is $8.99.

Novavax (NASDAQ:NVAX - Get Free Report) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.19. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The business had revenue of $118.90 million during the quarter, compared to analysts' expectations of $79.81 million. During the same period last year, the business earned $2.93 earnings per share. The firm's revenue was down 79.0% on a year-over-year basis. On average, sell-side analysts expect that Novavax, Inc. will post -0.19 EPS for the current year.

Novavax Company Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company's lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.

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