Nuveen Asset Management LLC Cuts Stake in Novavax, Inc. (NASDAQ:NVAX)

Nuveen Asset Management LLC reduced its position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 11.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 376,968 shares of the biopharmaceutical company's stock after selling 47,651 shares during the period. Nuveen Asset Management LLC owned 0.24% of Novavax worth $3,031,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. E Fund Management Co. Ltd. increased its stake in shares of Novavax by 5.1% in the fourth quarter. E Fund Management Co. Ltd. now owns 25,340 shares of the biopharmaceutical company's stock worth $204,000 after purchasing an additional 1,219 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Novavax by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company's stock valued at $3,509,000 after acquiring an additional 1,664 shares in the last quarter. Federated Hermes Inc. lifted its position in Novavax by 4.4% during the fourth quarter. Federated Hermes Inc. now owns 50,506 shares of the biopharmaceutical company's stock valued at $406,000 after purchasing an additional 2,124 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in Novavax by 16.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 16,126 shares of the biopharmaceutical company's stock valued at $130,000 after purchasing an additional 2,287 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Novavax by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,965 shares of the biopharmaceutical company's stock valued at $273,000 after purchasing an additional 3,174 shares during the last quarter. Hedge funds and other institutional investors own 53.04% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NVAX. JPMorgan Chase & Co. lowered their price objective on shares of Novavax from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Friday, May 9th. BTIG Research assumed coverage on shares of Novavax in a report on Friday, February 28th. They issued a "buy" rating and a $19.00 price objective for the company. TD Cowen raised shares of Novavax to a "hold" rating in a research report on Thursday, February 27th. Finally, B. Riley reissued a "buy" rating on shares of Novavax in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Novavax has a consensus rating of "Hold" and a consensus target price of $19.00.

Novavax Stock Down 1.5%

NVAX traded down $0.11 during midday trading on Wednesday, hitting $7.15. 6,667,109 shares of the company traded hands, compared to its average volume of 7,084,067. The firm has a market capitalization of $1.16 billion, a PE ratio of -3.16, a price-to-earnings-growth ratio of 2.85 and a beta of 3.21. The company's 50-day moving average is $6.56 and its 200 day moving average is $7.78. Novavax, Inc. has a 52 week low of $5.01 and a 52 week high of $23.86.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $0.71 by $2.22. The business had revenue of $666.66 million during the quarter, compared to the consensus estimate of $204.08 million. During the same quarter last year, the company earned ($1.05) EPS. Novavax's revenue for the quarter was up 610.3% on a year-over-year basis. On average, sell-side analysts predict 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.