Fox Run Management L.L.C. Invests $479,000 in Novavax, Inc. $NVAX

Key Points

• Fox Run Management L.L.C. has invested approximately $479,000 in Novavax, Inc. by acquiring 74,655 shares during the first quarter.
• Analysts have a mixed outlook on Novavax, reducing price targets to as low as $6.00 while maintaining a consensus target price of $15.86.
• Novavax reported earnings of $0.62 per share, exceeding expectations, but showing a 42.4% year-over-year revenue decline.

Fox Run Management L.L.C. bought a new position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 74,655 shares of the biopharmaceutical company's stock, valued at approximately $479,000.

Other hedge funds have also modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in shares of Novavax during the fourth quarter worth approximately $27,000. Kitching Partners LLC purchased a new position in Novavax in the 4th quarter valued at $89,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Novavax in the 1st quarter valued at $71,000. GAMMA Investing LLC grew its position in Novavax by 2,272.5% in the 1st quarter. GAMMA Investing LLC now owns 11,839 shares of the biopharmaceutical company's stock valued at $76,000 after buying an additional 11,340 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Novavax in the 1st quarter valued at $99,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVAX. B. Riley reiterated a "buy" rating on shares of Novavax in a research report on Monday, May 19th. Citigroup began coverage on shares of Novavax in a research report on Tuesday, June 17th. They issued a "sell" rating and a $6.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Novavax from $9.00 to $7.00 and set an "underweight" rating on the stock in a research report on Friday, May 9th. Finally, Bank of America reiterated an "underperform" rating and issued a $7.00 price objective (down from $9.00) on shares of Novavax in a research report on Wednesday. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $15.57.

Novavax Price Performance

Novavax stock traded up $0.21 during midday trading on Friday, reaching $7.84. The company's stock had a trading volume of 8,459,825 shares, compared to its average volume of 8,605,195. Novavax, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $15.22. The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.34 and a current ratio of 2.36. The stock's 50 day simple moving average is $7.30 and its 200 day simple moving average is $7.18. The firm has a market capitalization of $1.27 billion, a PE ratio of 3.44, a P/E/G ratio of 0.10 and a beta of 2.50.

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

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.