Novavax, Inc. (NASDAQ:NVAX) Shares Sold by Tang Capital Management LLC

Tang Capital Management LLC trimmed its holdings in Novavax, Inc. (NASDAQ:NVAX - Free Report) by 40.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 600,000 shares of the biopharmaceutical company's stock after selling 400,000 shares during the period. Tang Capital Management LLC owned 0.37% of Novavax worth $4,824,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sanofi acquired a new stake in shares of Novavax in the fourth quarter worth approximately $55,319,000. Deep Track Capital LP acquired a new position in Novavax during the fourth quarter worth approximately $16,080,000. Shah Capital Management raised its stake in Novavax by 13.6% during the fourth quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company's stock worth $89,637,000 after purchasing an additional 1,333,305 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Novavax by 289.0% in the 4th quarter. BNP Paribas Financial Markets now owns 556,832 shares of the biopharmaceutical company's stock valued at $4,477,000 after purchasing an additional 413,676 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Novavax in the 4th quarter valued at $2,761,000. Hedge funds and other institutional investors own 53.04% of the company's stock.

Analysts Set New Price Targets

NVAX has been the subject of a number of research analyst reports. BTIG Research began coverage on Novavax in a report on Friday, February 28th. They set a "buy" rating and a $19.00 price objective for the company. B. Riley restated a "buy" rating on shares of Novavax in a research note on Monday. JPMorgan Chase & Co. cut their price objective on Novavax from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Friday, May 9th. Finally, TD Cowen upgraded Novavax to a "hold" rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $19.00.

Novavax Trading Down 3.1%

NASDAQ:NVAX traded down $0.22 during mid-day trading on Friday, hitting $7.07. The company had a trading volume of 2,944,729 shares, compared to its average volume of 6,850,894. The business has a fifty day simple moving average of $6.63 and a 200-day simple moving average of $7.85. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -3.13, a PEG ratio of 2.85 and a beta of 3.21. Novavax, Inc. has a 1 year low of $5.01 and a 1 year high of $23.86.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 EPS for the quarter, beating the consensus estimate of $0.71 by $2.22. The company had revenue of $666.66 million for the quarter, compared to analysts' expectations of $204.08 million. The business's quarterly revenue was up 610.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.05) earnings per share. As a group, research analysts anticipate that Novavax, Inc. will post -1.46 earnings per share for the current year.

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.