Novavax, Inc. $NVAX Stock Position Lowered by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its Novavax stake by 1.5% in Q3 to 15,194,563 shares — about 9.35% ownership worth roughly $131.7 million.
• Novavax beat expectations for the quarter with $0.11 EPS (vs. −$0.66 est.) and $136.4M revenue (up 66.6%), but analyst sentiment remains mixed with an average rating of "Hold" and an average target of $11.88.

Vanguard Group Inc. decreased its position in Novavax, Inc. (NASDAQ:NVAX - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,194,563 shares of the biopharmaceutical company's stock after selling 238,649 shares during the quarter. Vanguard Group Inc. owned about 9.35% of Novavax worth $131,737,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of Novavax by 95.2% during the 1st quarter. AQR Capital Management LLC now owns 44,427 shares of the biopharmaceutical company's stock valued at $285,000 after purchasing an additional 21,663 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Novavax by 2.7% during the first 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 during the last quarter. Caxton Associates LLP bought a new stake in Novavax during the first quarter worth approximately $158,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Novavax by 16.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 312,789 shares of the biopharmaceutical company's stock valued at $2,005,000 after buying an additional 44,105 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Novavax during the 1st quarter valued at $167,000. 53.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on NVAX. BTIG Research reaffirmed a "buy" rating and set a $19.00 target price on shares of Novavax in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Novavax in a research note on Monday, December 29th. JPMorgan Chase & Co. dropped their target price on shares of Novavax from $7.00 to $6.00 and set an "underweight" rating on the stock in a research report on Tuesday, November 18th. Wall Street Zen upgraded shares of Novavax from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, TD Cowen decreased their price objective on shares of Novavax from $8.00 to $7.00 and set a "hold" rating for the company in a research note on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $11.88.

Novavax Stock Down 6.1%

Novavax stock opened at $9.49 on Wednesday. Novavax, Inc. has a twelve month low of $5.01 and a twelve month high of $11.97. The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.10 and a current ratio of 2.13. The firm has a market cap of $1.55 billion, a PE ratio of 3.94 and a beta of 2.54. The firm's 50 day moving average price is $8.46 and its two-hundred day moving average price is $8.03.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.77. The company had revenue of $136.40 million for the quarter, compared to analyst estimates of $90.26 million. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.The business's revenue was up 66.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.51) EPS. On average, research analysts predict that Novavax, Inc. will post -1.46 EPS for the current fiscal year.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company's lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.

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