Novavax, Inc. $NVAX Shares Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Novavax by 45.2%, acquiring an additional 28,493 shares, bringing its total ownership to 91,476 shares valued at approximately $576,000.
• Novavax posted a quarterly earnings report revealing earnings per share (EPS) of $0.62, significantly exceeding analysts' expectations of ($0.07), although revenue was down 42.4% year-over-year.
• Despite positive earnings results, Bank of America downgraded its rating on Novavax from "underperform" to a price target of $7.00, reflecting cautious sentiment among analysts.

Bayforest Capital Ltd boosted its position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 45.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,476 shares of the biopharmaceutical company's stock after purchasing an additional 28,493 shares during the period. Bayforest Capital Ltd owned approximately 0.06% of Novavax worth $576,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Novavax by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company's stock valued at $678,000 after purchasing an additional 2,750 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Novavax by 9.1% during the 1st 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 in the last quarter. Signaturefd LLC grew its holdings in Novavax by 47.2% during the 2nd quarter. Signaturefd LLC now owns 9,739 shares of the biopharmaceutical company's stock valued at $61,000 after purchasing an additional 3,122 shares in the last quarter. Monaco Asset Management SAM grew its holdings in Novavax by 1.8% during the 1st 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 in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Novavax by 11.1% during the 1st 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 in the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.

Novavax Trading Up 3.1%

Novavax stock opened at $8.89 on Wednesday. The firm's 50-day moving average is $8.42 and its 200-day moving average is $7.31. The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.34 and a current ratio of 2.36. Novavax, Inc. has a 1 year low of $5.01 and a 1 year high of $12.86. The company has a market cap of $1.44 billion, a P/E ratio of 3.90, a PEG ratio of 0.12 and a beta of 2.74.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.69. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. The company had revenue of $239.24 million for the quarter, compared to the consensus estimate of $149.19 million. During the same period last year, the firm posted $0.99 EPS. The company's revenue for the quarter was down 42.4% on a year-over-year basis. On average, equities analysts expect that Novavax, Inc. will post -1.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Bank of America reaffirmed an "underperform" rating and set a $7.00 price target (down from $9.00) on shares of Novavax in a report on Wednesday, August 20th. HC Wainwright began coverage on shares of Novavax in a report on Thursday, August 28th. They set a "buy" rating and a $10.00 price target for the company. Weiss Ratings reissued a "sell (d+)" rating on shares of Novavax in a report on Wednesday, October 8th. Finally, Citigroup began coverage on shares of Novavax in a report on Tuesday, June 17th. They set a "sell" rating and a $6.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $12.33.

Novavax 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.