Novavax, Inc. (NASDAQ:NVAX) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its stake in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 82.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,820 shares of the biopharmaceutical company's stock after selling 354,917 shares during the quarter. Vontobel Holding Ltd.'s holdings in Novavax were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new stake in Novavax during the 4th quarter valued at approximately $27,000. New Age Alpha Advisors LLC purchased a new position in shares of Novavax during the fourth quarter valued at about $35,000. GAMMA Investing LLC grew its position in shares of Novavax by 2,272.5% during the first quarter. GAMMA Investing LLC now owns 11,839 shares of the biopharmaceutical company's stock valued at $76,000 after purchasing an additional 11,340 shares in the last quarter. AlphaQuest LLC grew its position in shares of Novavax by 290.1% during the fourth 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 in the last quarter. Finally, Kitching Partners LLC purchased a new position in shares of Novavax during the fourth quarter valued at about $89,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. B. Riley restated a "buy" rating on shares of Novavax in a research report on Monday, May 19th. JPMorgan Chase & Co. dropped their price target on Novavax from $9.00 to $7.00 and set an "underweight" rating for the company in a research report on Friday, May 9th. Finally, Citigroup initiated coverage on Novavax in a research report on Tuesday, June 17th. They issued a "sell" rating and a $6.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Novavax presently has a consensus rating of "Hold" and an average target price of $17.00.

Novavax Price Performance

Shares of NASDAQ:NVAX traded down $0.26 during trading hours on Friday, hitting $6.84. 3,956,922 shares of the company's stock traded hands, compared to its average volume of 6,288,244. Novavax, Inc. has a 1 year low of $5.01 and a 1 year high of $17.81. The business has a fifty day moving average price of $6.79 and a 200-day moving average price of $7.43. The firm has a market capitalization of $1.11 billion, a P/E ratio of 2.58, a price-to-earnings-growth ratio of 0.06 and a beta of 2.69.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $0.71 by $2.22. Novavax had a net margin of 38.14% and a negative return on equity of 115.51%. The firm had revenue of $666.66 million during the quarter, compared to the consensus estimate of $204.08 million. During the same quarter in the previous year, the firm posted ($1.05) earnings per share. The company's revenue was up 610.3% on a year-over-year basis. As a group, equities analysts predict that Novavax, Inc. will post -1.46 earnings per share for the current year.

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.