Tang Capital Management LLC Has $4.82 Million Stake in Novavax, Inc. (NASDAQ:NVAX)

Tang Capital Management LLC cut its holdings in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 40.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 about 0.37% of Novavax worth $4,824,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVAX. Spire Wealth Management bought a new stake in Novavax during the fourth quarter worth $29,000. New Age Alpha Advisors LLC bought a new stake in shares of Novavax during the 4th quarter valued at approximately $35,000. KBC Group NV grew its holdings in shares of Novavax by 97.0% during the 4th quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company's stock valued at $64,000 after purchasing an additional 3,917 shares during the last quarter. TigerOak Management L.L.C. bought a new stake in shares of Novavax during the 4th quarter valued at approximately $86,000. Finally, AlphaQuest LLC grew its holdings in shares of Novavax by 290.1% during the 4th quarter. AlphaQuest LLC now owns 10,677 shares of the biopharmaceutical company's stock valued at $86,000 after purchasing an additional 7,940 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVAX. JPMorgan Chase & Co. decreased their price target on shares of Novavax from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Friday, May 9th. BTIG Research began coverage on shares of Novavax in a report on Friday, February 28th. They set a "buy" rating and a $19.00 price target on the stock. Finally, TD Cowen raised shares of Novavax to a "hold" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Novavax has an average rating of "Hold" and a consensus target price of $19.00.

Novavax Price Performance

NASDAQ NVAX traded down $0.06 on Tuesday, reaching $7.68. The company had a trading volume of 22,955,538 shares, compared to its average volume of 7,461,202. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -3.40, a P/E/G ratio of 2.85 and a beta of 3.21. Novavax, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $23.86. The business has a 50 day moving average of $6.67 and a two-hundred day moving average of $7.87.

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