Shah Capital Management Has $72.52 Million Stock Position in Novavax, Inc. $NVAX

Key Points

• Shah Capital Management increased its stake in Novavax, Inc. by 3.4% during Q2, owning approximately 11.5 million shares valued at around $72.5 million.
• Novavax reported $0.62 EPS for the last quarter, significantly exceeding estimates, with revenues of $239.24 million, although that's a 42.4% decline year-over-year.
• Analysts have mixed opinions on Novavax, with a consensus rating of "Hold" and a target price ranging from $6.00 to $14.29.

Shah Capital Management grew its position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,511,780 shares of the biopharmaceutical company's stock after buying an additional 379,934 shares during the period. Novavax makes up 14.1% of Shah Capital Management's holdings, making the stock its 3rd biggest position. Shah Capital Management owned 7.11% of Novavax worth $72,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVAX. Park West Asset Management LLC bought a new position in shares of Novavax in the 1st quarter valued at $16,210,000. Jump Financial LLC acquired a new position in shares of Novavax during the first quarter worth $3,280,000. Nuveen LLC acquired a new stake in shares of Novavax in the first quarter valued at about $2,517,000. Jupiter Asset Management Ltd. acquired a new stake in Novavax during the 1st quarter valued at approximately $1,907,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Novavax in the first quarter valued at $1,276,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Price Performance

NVAX stock opened at $9.08 on Tuesday. Novavax, Inc. has a 12-month low of $5.01 and a 12-month high of $13.77. 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's 50-day moving average price is $8.18 and its two-hundred day moving average price is $7.25. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 3.98, a PEG ratio of 0.12 and a beta of 2.74.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 142.33% and a net margin of 39.20%.The business had revenue of $239.24 million during the quarter, compared to the consensus estimate of $149.19 million. During the same quarter in the prior year, the company earned $0.99 earnings per share. The firm's quarterly revenue was down 42.4% compared to the same quarter last year. As a group, equities analysts predict that Novavax, Inc. will post -1.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NVAX shares. HC Wainwright initiated coverage on shares of Novavax in a research note on Thursday, August 28th. They issued a "buy" rating and a $10.00 price objective for the company. Weiss Ratings restated a "sell (d+)" rating on shares of Novavax in a report on Saturday, September 27th. Bank of America reiterated an "underperform" rating and set a $7.00 target price (down from $9.00) on shares of Novavax in a research note on Wednesday, August 20th. Finally, Citigroup initiated coverage on 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 issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price 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.

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