Amalgamated Bank raised its position in Novavax, Inc. (NASDAQ:NVAX – Get Rating) by 9.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,546 shares of the biopharmaceutical company's stock after purchasing an additional 1,566 shares during the quarter. Amalgamated Bank's holdings in Novavax were worth $1,292,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Rockefeller Capital Management L.P. increased its position in shares of Novavax by 62.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 386 shares of the biopharmaceutical company's stock worth $55,000 after acquiring an additional 149 shares during the period. San Luis Wealth Advisors LLC purchased a new stake in shares of Novavax during the first quarter worth $29,000. Cetera Advisors LLC increased its position in shares of Novavax by 3.4% during the first quarter. Cetera Advisors LLC now owns 7,632 shares of the biopharmaceutical company's stock worth $562,000 after acquiring an additional 254 shares during the period. DNB Asset Management AS increased its position in shares of Novavax by 2.5% during the first quarter. DNB Asset Management AS now owns 10,383 shares of the biopharmaceutical company's stock worth $765,000 after acquiring an additional 257 shares during the period. Finally, Commerce Bank increased its position in shares of Novavax by 18.9% during the fourth quarter. Commerce Bank now owns 1,644 shares of the biopharmaceutical company's stock worth $235,000 after acquiring an additional 261 shares during the period. Hedge funds and other institutional investors own 42.63% of the company's stock.
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Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on NVAX. B. Riley cut their price objective on Novavax from $181.00 to $171.00 in a research report on Friday, July 22nd. JPMorgan Chase & Co. downgraded shares of Novavax from a "neutral" rating to an "underweight" rating and lowered their target price for the stock from $132.00 to $27.00 in a research note on Thursday, September 22nd. Cantor Fitzgerald boosted their target price on shares of Novavax from $146.00 to $168.00 in a research note on Wednesday, June 8th. Cowen lowered their target price on shares of Novavax from $150.00 to $110.00 and set an "outperform" rating for the company in a research note on Tuesday, August 9th. Finally, Cowen lowered their target price on shares of Novavax to $110.00 in a research note on Monday, August 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $128.25.
Novavax Price Performance
NASDAQ NVAX opened at $20.04 on Wednesday. Novavax, Inc. has a 1 year low of $18.79 and a 1 year high of $236.50. The company has a market capitalization of $1.57 billion, a PE ratio of -1.03, a P/E/G ratio of 0.41 and a beta of 1.65. The company has a fifty day moving average of $40.56 and a two-hundred day moving average of $51.49.
Novavax (NASDAQ:NVAX – Get Rating) last released its quarterly earnings data 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 net margin of 114.32% and a negative return on equity of 572.54%. The company had revenue of $186.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company earned ($4.75) EPS. The business's revenue was down 37.6% on a year-over-year basis. On average, research analysts expect that Novavax, Inc. will post 1.42 earnings per share 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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