Millennium Management LLC Trims Holdings in Novavax, Inc. (NASDAQ:NVAX)

Millennium Management LLC lowered its position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 48.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,001,433 shares of the biopharmaceutical company's stock after selling 941,408 shares during the period. Millennium Management LLC owned 0.63% of Novavax worth $8,052,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NVAX. Spire Wealth Management bought a new stake in Novavax during the fourth quarter valued at approximately $29,000. New Age Alpha Advisors LLC bought a new stake in Novavax during the fourth quarter valued at approximately $35,000. KBC Group NV lifted its position in Novavax by 97.0% during the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company's stock valued at $64,000 after purchasing an additional 3,917 shares during the last quarter. TigerOak Management L.L.C. bought a new stake in Novavax during the fourth quarter valued at approximately $86,000. Finally, AlphaQuest LLC lifted its position in Novavax by 290.1% during the fourth quarter. AlphaQuest LLC now owns 10,677 shares of the biopharmaceutical company's stock valued at $86,000 after purchasing an additional 7,940 shares during the last quarter. Hedge funds and other institutional investors own 53.04% of the company's stock.

Novavax Trading Up 4.1%

Shares of NVAX traded up $0.29 during mid-day trading on Thursday, reaching $7.21. The company's stock had a trading volume of 4,184,076 shares, compared to its average volume of 7,216,554. The company's fifty day moving average price is $6.58 and its two-hundred day moving average price is $7.80. Novavax, Inc. has a 52 week low of $5.01 and a 52 week high of $23.86. The stock has a market cap of $1.17 billion, a PE ratio of -3.20, a P/E/G ratio of 2.85 and a beta of 3.21.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $2.22. The firm had revenue of $666.66 million for the quarter, compared to the consensus estimate of $204.08 million. During the same quarter in the prior year, the company earned ($1.05) earnings per share. The company's quarterly revenue was up 610.3% compared to the same quarter last year. Research analysts anticipate that Novavax, Inc. will post -1.46 EPS for the current year.

Analyst Ratings Changes

NVAX has been the subject of several research analyst reports. B. Riley reiterated a "buy" rating on shares of Novavax in a research report on Monday, May 19th. JPMorgan Chase & Co. dropped their target price on shares of Novavax from $9.00 to $7.00 and set an "underweight" rating for the company in a research report on Friday, May 9th. BTIG Research initiated coverage on shares of Novavax in a research report on Friday, February 28th. They set a "buy" rating and a $19.00 target price for the company. Finally, TD Cowen upgraded shares of Novavax to a "hold" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Novavax has an average rating of "Hold" and an average target price of $19.00.

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.