Novavax, Inc. $NVAX Stock Position Lessened by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Novavax, Inc. by 19.4%, holding 819,260 shares valued at approximately $5.25 million as of the end of the first quarter.
• Various hedge funds have increased their positions in Novavax, with institutional investors owning 53.04% of the company's stock.
• Analysts have mixed views on Novavax, with a consensus rating of "Hold" and price targets ranging from $6.00 to $14.29.

Goldman Sachs Group Inc. trimmed its position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 19.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 819,260 shares of the biopharmaceutical company's stock after selling 197,252 shares during the quarter. Goldman Sachs Group Inc. owned 0.51% of Novavax worth $5,251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NVAX. Park West Asset Management LLC acquired a new stake in shares of Novavax during the 1st quarter worth about $16,210,000. Jump Financial LLC acquired a new position in shares of Novavax in the first quarter valued at approximately $3,280,000. Bank of New York Mellon Corp grew its holdings in Novavax by 4.1% during the first quarter. Bank of New York Mellon Corp now owns 454,432 shares of the biopharmaceutical company's stock worth $2,913,000 after acquiring an additional 17,981 shares during the period. Nuveen LLC acquired a new position in Novavax during the first quarter worth $2,517,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Novavax by 16.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 312,789 shares of the biopharmaceutical company's stock worth $2,005,000 after acquiring an additional 44,105 shares during the period. Hedge funds and other institutional investors own 53.04% of the company's stock.

Novavax Stock Up 2.1%

Shares of NVAX stock traded up $0.18 during trading hours on Friday, reaching $8.71. The company had a trading volume of 5,162,259 shares, compared to its average volume of 5,626,119. The company has a market capitalization of $1.41 billion, a P/E ratio of 3.82, a price-to-earnings-growth ratio of 0.11 and a beta of 2.68. Novavax, Inc. has a twelve month low of $5.01 and a twelve month 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 fifty day simple moving average is $7.81 and its 200 day simple moving average is $7.19.

Novavax (NASDAQ:NVAX - Get Free Report) last issued 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. The firm had revenue of $239.24 million during the quarter, compared to the consensus estimate of $149.19 million. Novavax had a negative return on equity of 142.33% and a net margin of 39.20%.Novavax's revenue for the quarter was down 42.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 earnings per share. As a group, sell-side analysts expect that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NVAX shares. HC Wainwright started coverage on Novavax in a research report on Thursday, August 28th. They set a "buy" rating and a $10.00 target price on the stock. Bank of America reiterated an "underperform" rating and set a $7.00 target price (down from $9.00) on shares of Novavax in a research report on Wednesday, August 20th. Finally, Citigroup started coverage on Novavax in a research report on Tuesday, June 17th. They set a "sell" rating and a $6.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Novavax currently has an average rating of "Hold" and an average price target of $14.29.

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.