Squarepoint Ops LLC Invests $1.26 Million in Novavax, Inc. $NVAX

Key Points

• Squarepoint Ops LLC acquired 133,562 Novavax shares worth approximately $1.26 million in the second quarter, giving it a 0.08% stake. Institutional investors collectively own 53.04% of NVAX.
• Analyst sentiment remains mixed, with five Buy, two Hold, and two Sell ratings; the consensus rating is Hold with an average price target of $14.00.
• Novavax reported a quarterly loss of $0.32 per share, beating estimates, while revenue of $56.7 million exceeded forecasts but fell 76.2% year over year. Shares opened at $9.35, with a market capitalization of about $1.54 billion.

Squarepoint Ops LLC purchased a new position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 133,562 shares of the biopharmaceutical company's stock, valued at approximately $1,258,000. Squarepoint Ops LLC owned 0.08% of Novavax at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVAX. Shah Capital Management raised its position in Novavax by 2.0% during the 1st quarter. Shah Capital Management now owns 14,845,097 shares of the biopharmaceutical company's stock worth $120,839,000 after buying an additional 286,317 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Novavax during the second quarter worth about $8,004,000. Monaco Asset Management SAM raised its holdings in Novavax by 161.3% during the fourth quarter. Monaco Asset Management SAM now owns 1,045,000 shares of the biopharmaceutical company's stock worth $7,022,000 after purchasing an additional 645,000 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Novavax during the first quarter worth about $4,234,000. Finally, Renaissance Technologies LLC acquired a new stake in Novavax in the first quarter valued at about $4,049,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVAX has been the topic of a number of analyst reports. Wall Street Zen raised Novavax from a "sell" rating to a "hold" rating in a report on Saturday, September 12th. BTIG Research reissued a "buy" rating and set a $19.00 target price on shares of Novavax in a research note on Thursday, June 11th. Weiss Ratings reissued a "sell (d)" rating on shares of Novavax in a report on Tuesday, August 4th. Finally, Zacks Research downgraded Novavax from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $14.00.

Novavax Stock Up 1.3%

Shares of NASDAQ NVAX opened at $9.35 on Thursday. Novavax, Inc. has a 52 week low of $6.20 and a 52 week high of $11.97. The firm has a 50-day moving average price of $8.62 and a 200 day moving average price of $9.00. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -6.15 and a beta of 2.45.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.06. Novavax had a negative net margin of 59.87% and a negative return on equity of 14.82%. The company had revenue of $56.70 million for the quarter, compared to analyst estimates of $52.51 million. During the same period in the prior year, the business posted $0.62 earnings per share. The firm's revenue for the quarter was down 76.2% compared to the same quarter last year. Equities research analysts expect that Novavax, Inc. will post -0.46 EPS for the current fiscal year.

Novavax Profile

Novavax, Inc is a biotechnology company focused on discovering, developing and commercializing vaccines for infectious diseases. The company's vaccine platform uses recombinant nanoparticle technology and Matrix-M, its proprietary saponin-based adjuvant, which is designed to enhance and broaden immune responses.

Novavax's primary commercial product is Nuvaxovid, a protein-based COVID-19 vaccine authorized in multiple markets. The vaccine has also been marketed as Covovax through partnerships in certain countries.

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