Northern Trust Corp Lowers Holdings in Novavax, Inc. $NVAX

Key Points

• Northern Trust Corp reduced its stake in Novavax, Inc. by 3.3%, selling 48,282 shares, and now holds about 0.87% of the company, valued at approximately $8.996 million.
• Several institutional investors have increased their stakes in Novavax, including Sanofi, which purchased a new position worth $55.3 million.
• Novavax reported a quarterly earnings surprise with an EPS of $0.62, beating estimates and generating $239.24 million in revenue, despite a 42.4% decline year-over-year.

Northern Trust Corp lowered its position in Novavax, Inc. (NASDAQ:NVAX - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,403,433 shares of the biopharmaceutical company's stock after selling 48,282 shares during the quarter. Northern Trust Corp owned approximately 0.87% of Novavax worth $8,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Novavax by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 33,169 shares of the biopharmaceutical company's stock valued at $213,000 after purchasing an additional 2,780 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Novavax during the fourth quarter valued at approximately $27,000. Monaco Asset Management SAM boosted its stake in shares of Novavax by 1.8% during the first quarter. Monaco Asset Management SAM now owns 290,000 shares of the biopharmaceutical company's stock valued at $1,859,000 after purchasing an additional 5,000 shares during the period. Federated Hermes Inc. boosted its stake in shares of Novavax by 11.1% during the first quarter. Federated Hermes Inc. now owns 56,124 shares of the biopharmaceutical company's stock valued at $360,000 after purchasing an additional 5,618 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Novavax by 3.3% during the first quarter. Rhumbline Advisers now owns 215,413 shares of the biopharmaceutical company's stock valued at $1,381,000 after purchasing an additional 6,949 shares during the period. Hedge funds and other institutional investors own 53.04% of the company's stock.

Novavax Stock Down 2.2%

Novavax stock traded down $0.17 on Monday, hitting $7.73. 3,488,938 shares of the stock traded hands, compared to its average volume of 7,446,854. 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 firm has a market cap of $1.26 billion, a P/E ratio of 3.39, a price-to-earnings-growth ratio of 0.10 and a beta of 2.68. The business's fifty day simple moving average is $7.55 and its 200 day simple moving average is $7.14. 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 quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.69. The business had revenue of $239.24 million during the quarter, compared to analyst estimates of $149.19 million. Novavax had a negative return on equity of 142.33% and a net margin of 39.20%.The company's revenue for the quarter was down 42.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. As a group, sell-side analysts forecast that Novavax, Inc. will post -1.46 earnings per share for the current year.

Analyst Ratings Changes

NVAX has been the subject of a number of research analyst reports. HC Wainwright initiated coverage on Novavax in a research note on Thursday, August 28th. They issued a "buy" rating and a $10.00 price target for the company. Bank of America reaffirmed an "underperform" rating and issued a $7.00 price target (down previously from $9.00) on shares of Novavax in a research note on Wednesday, August 20th. B. Riley reaffirmed a "buy" rating on shares of Novavax in a research note on Monday, May 19th. Finally, Citigroup initiated coverage on Novavax in a research note on Tuesday, June 17th. They issued a "sell" rating and a $6.00 price target for the company. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently 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.