161,304 Shares in Novavax, Inc. $NVAX Bought by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC acquired a new position in Novavax, Inc., purchasing 161,304 shares for approximately $1.02 million, representing about 0.10% of the company's stock as of the last quarter.
• Major institutional investors, including Deutsche Bank and California State Teachers Retirement System, have significantly raised their stakes in Novavax, indicating growing interest in the biopharmaceutical company.
• Novavax reported a quarterly earnings per share (EPS) of $0.62, surpassing analyst expectations, but saw a 42.4% year-over-year revenue decline despite total revenue being higher than analyst forecasts.

Kingstone Capital Partners Texas LLC acquired a new position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 161,304 shares of the biopharmaceutical company's stock, valued at approximately $1,016,000. Kingstone Capital Partners Texas LLC owned 0.10% of Novavax at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Park West Asset Management LLC acquired a new position in shares of Novavax during the 1st quarter worth about $16,210,000. Jump Financial LLC bought a new position in shares of Novavax in the first quarter worth $3,280,000. Nuveen LLC bought a new stake in shares of Novavax during the 1st quarter worth $2,517,000. Jupiter Asset Management Ltd. purchased a new stake in Novavax during the 1st quarter valued at about $1,907,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Novavax during the 1st quarter valued at $1,276,000. 53.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NVAX shares. HC Wainwright assumed coverage on shares of Novavax in a report on Thursday, August 28th. They issued a "buy" rating and a $10.00 target price for the company. Bank of America reaffirmed an "underperform" rating and issued a $7.00 price objective (down from $9.00) on shares of Novavax in a report on Wednesday, August 20th. Finally, Citigroup initiated 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 given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $14.29.

Novavax Price Performance

Novavax stock traded up $0.16 during trading hours on Monday, hitting $8.87. 4,509,447 shares of the company traded hands, compared to its average volume of 5,462,274. The firm's 50-day simple moving average is $7.85 and its two-hundred day simple moving average is $7.18. The company has a quick ratio of 2.34, a current ratio of 2.36 and a debt-to-equity ratio of 5.93. The firm has a market cap of $1.44 billion, a P/E ratio of 3.89, a P/E/G ratio of 0.11 and a beta of 2.68. 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 announced its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.69. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. The firm had revenue of $239.24 million for the quarter, compared to the consensus estimate of $149.19 million. During the same quarter last year, the firm posted $0.99 EPS. The business's quarterly revenue was down 42.4% on a year-over-year basis. As a group, analysts forecast that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

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.