Sanofi Acquires New Position in Novavax, Inc. (NASDAQ:NVAX)

Sanofi acquired a new position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,880,481 shares of the biopharmaceutical company's stock, valued at approximately $55,319,000. Novavax accounts for approximately 31.7% of Sanofi's investment portfolio, making the stock its 2nd largest position. Sanofi owned approximately 4.30% of Novavax at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVAX. Deep Track Capital LP acquired a new position in Novavax during the fourth quarter worth about $16,080,000. Shah Capital Management raised its holdings 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 last quarter. BNP Paribas Financial Markets boosted its position in Novavax by 289.0% during the fourth quarter. BNP Paribas Financial Markets now owns 556,832 shares of the biopharmaceutical company's stock worth $4,477,000 after purchasing an additional 413,676 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Novavax in the fourth quarter valued at about $2,761,000. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Novavax during the 4th quarter worth approximately $2,687,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NVAX shares. TD Cowen raised Novavax to a "hold" rating in a report on Thursday, February 27th. 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 for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Novavax from $9.00 to $7.00 and set an "underweight" rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $19.00.

Novavax Price Performance

NVAX traded up $0.25 during trading on Thursday, hitting $7.36. The company had a trading volume of 4,384,960 shares, compared to its average volume of 7,424,792. Novavax, Inc. has a 1-year low of $5.01 and a 1-year high of $23.86. The company has a market cap of $1.19 billion, a PE ratio of -3.23, a P/E/G ratio of 2.85 and a beta of 3.21. The business has a 50-day moving average of $6.65 and a 200-day moving average of $7.86.

Novavax (NASDAQ:NVAX - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $0.71 by $2.22. The company had revenue of $666.66 million during the quarter, compared to the consensus estimate of $204.08 million. During the same period in the previous year, the firm posted ($1.05) EPS. Novavax's revenue for the quarter was up 610.3% on a year-over-year basis. Research analysts forecast that Novavax, Inc. will post -1.46 earnings per share for the current year.

About Novavax

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.