74,655 Shares in Novavax, Inc. $NVAX Purchased by Fox Run Management L.L.C.

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 Novavax, Inc. (NASDAQ:NVAX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 74,655 shares of the biopharmaceutical company's stock, valued at approximately $479,000.

Several other institutional investors have also made changes to their positions in NVAX. JPMorgan Chase & Co. increased its position in shares of Novavax by 28.8% in the fourth quarter. JPMorgan Chase & Co. now owns 76,576 shares of the biopharmaceutical company's stock worth $616,000 after acquiring an additional 17,101 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Novavax by 31.3% in the fourth quarter. Wells Fargo & Company MN now owns 125,845 shares of the biopharmaceutical company's stock worth $1,012,000 after acquiring an additional 29,981 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Novavax in the fourth quarter worth approximately $544,000. Summit Investment Advisors Inc. increased its position in shares of Novavax by 16.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 16,126 shares of the biopharmaceutical company's stock worth $130,000 after acquiring an additional 2,287 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Novavax by 23.2% in the fourth quarter. Canada Pension Plan Investment Board now owns 379,300 shares of the biopharmaceutical company's stock worth $3,050,000 after acquiring an additional 71,500 shares in the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Stock Down 12.7%

NASDAQ NVAX traded down $1.11 during trading on Thursday, reaching $7.63. The company's stock had a trading volume of 20,967,137 shares, compared to its average volume of 7,930,775. The company has a current ratio of 2.36, a quick ratio of 2.34 and a debt-to-equity ratio of 5.93. The stock has a market capitalization of $1.24 billion, a PE ratio of 3.35, a PEG ratio of 0.10 and a beta of 2.50. The business has a 50-day moving average price of $7.28 and a 200-day moving average price of $7.20. 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 quarterly 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 net margin of 39.20% and a negative return on equity of 142.33%. The company had revenue of $239.24 million for the quarter, compared to analyst estimates of $149.19 million. During the same quarter last year, the firm posted $0.99 earnings per share. The company's quarterly revenue was down 42.4% compared to the same quarter last year. On average, research analysts forecast that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVAX. Citigroup assumed coverage on shares of Novavax in a research report on Tuesday, June 17th. They issued a "sell" rating and a $6.00 target price on the stock. Bank of America reaffirmed an "underperform" rating and set a $7.00 price objective (down from $9.00) on shares of Novavax in a research report on Wednesday. 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, B. Riley reaffirmed a "buy" rating on shares of Novavax in a research report on Monday, May 19th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Novavax has a consensus rating of "Hold" and a consensus target price of $15.57.

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.