Transcend Capital Advisors LLC acquired a new position in shares of Novavax, Inc. (NASDAQ:NVAX – Get Rating) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,118 shares of the biopharmaceutical company's stock, valued at approximately $212,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Coatue Management LLC acquired a new stake in shares of Novavax in the 1st quarter valued at $65,066,000. State Street Corp boosted its holdings in shares of Novavax by 31.4% in the 1st quarter. State Street Corp now owns 2,495,542 shares of the biopharmaceutical company's stock valued at $183,797,000 after purchasing an additional 596,322 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Novavax by 139.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 488,744 shares of the biopharmaceutical company's stock valued at $35,996,000 after purchasing an additional 284,344 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Novavax in the 1st quarter valued at $9,839,000. Finally, International Biotechnology Trust PLC acquired a new stake in shares of Novavax in the 1st quarter valued at $18,549,000. Institutional investors own 42.63% of the company's stock.
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Analyst Ratings Changes
NVAX has been the topic of several recent research reports. Cantor Fitzgerald raised their price objective on Novavax from $146.00 to $168.00 in a report on Wednesday, June 8th. B. Riley cut their price objective on Novavax from $181.00 to $171.00 in a report on Friday, July 22nd. JPMorgan Chase & Co. downgraded Novavax from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $132.00 to $27.00 in a report on Thursday. Cowen cut their price objective on Novavax to $110.00 in a report on Monday, August 15th. Finally, Cowen cut their price objective on Novavax from $150.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $128.25.
Novavax Stock Down 13.3 %
Shares of NASDAQ:NVAX opened at $22.44 on Friday. The firm has a market cap of $1.75 billion, a P/E ratio of -1.15, a P/E/G ratio of 0.13 and a beta of 1.65. Novavax, Inc. has a 12-month low of $21.81 and a 12-month high of $260.69. The business has a fifty day simple moving average of $41.89 and a 200 day simple moving average of $52.60.
Novavax (NASDAQ:NVAX – Get Rating) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($6.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($12.04). Novavax had a negative return on equity of 572.54% and a negative net margin of 114.32%. The company had revenue of $186.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business earned ($4.75) earnings per share. The firm's revenue for the quarter was down 37.6% on a year-over-year basis. As a group, equities research analysts expect that Novavax, Inc. will post 6.09 EPS for the current year.
About Novavax
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Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.
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