Federated Hermes Inc. Sells 409,114 Shares of Novavax, Inc. (NASDAQ:NVAX)

Federated Hermes Inc. decreased its position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 88.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,713 shares of the biopharmaceutical company's stock after selling 409,114 shares during the period. Federated Hermes Inc.'s holdings in Novavax were worth $253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVAX. Vanguard Group Inc. grew its position in Novavax by 9.3% in the third quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company's stock worth $83,633,000 after buying an additional 978,873 shares during the last quarter. TSP Capital Management Group LLC grew its position in Novavax by 162.8% in the third quarter. TSP Capital Management Group LLC now owns 966,350 shares of the biopharmaceutical company's stock worth $6,996,000 after buying an additional 598,600 shares during the last quarter. SG Americas Securities LLC acquired a new position in Novavax in the fourth quarter worth approximately $824,000. Raymond James & Associates acquired a new position in Novavax in the third quarter worth approximately $1,021,000. Finally, Dark Forest Capital Management LP grew its position in Novavax by 131.4% in the third quarter. Dark Forest Capital Management LP now owns 228,901 shares of the biopharmaceutical company's stock worth $1,657,000 after buying an additional 129,979 shares during the last quarter. Institutional investors own 53.04% of the company's stock.

Novavax Price Performance

NASDAQ NVAX traded down $0.17 on Monday, hitting $4.76. 4,820,239 shares of the stock were exchanged, compared to its average volume of 7,187,899. Novavax, Inc. has a 52-week low of $3.53 and a 52-week high of $11.36. The company has a market capitalization of $668.30 million, a price-to-earnings ratio of -0.86 and a beta of 1.63. The company's 50-day moving average price is $4.69 and its two-hundred day moving average price is $5.00.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.95). The firm had revenue of $291.34 million for the quarter, compared to analyst estimates of $310.96 million. During the same quarter in the prior year, the company posted ($2.28) EPS. The firm's quarterly revenue was down 18.5% compared to the same quarter last year. Equities analysts predict that Novavax, Inc. will post -0.82 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright lowered their price objective on shares of Novavax from $35.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, March 1st.

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.