FMR LLC cut its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 22.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,447,637 shares of the biopharmaceutical company’s stock after selling 4,112,700 shares during the quarter. FMR LLC owned approximately 5.11% of Novavax worth $16,615,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of NVAX. Profund Advisors LLC grew its position in shares of Novavax by 0.4% during the 2nd quarter. Profund Advisors LLC now owns 120,775 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 455 shares during the period. HighTower Advisors LLC grew its position in shares of Novavax by 3.8% in the 1st quarter. HighTower Advisors LLC now owns 142,000 shares of the biopharmaceutical company’s stock valued at $184,000 after purchasing an additional 5,250 shares during the period. American International Group Inc. grew its position in shares of Novavax by 7.1% in the 1st quarter. American International Group Inc. now owns 166,252 shares of the biopharmaceutical company’s stock valued at $213,000 after purchasing an additional 10,965 shares during the period. KCG Holdings Inc. boosted its position in Novavax by 161.0% during the 1st quarter. KCG Holdings Inc. now owns 178,797 shares of the biopharmaceutical company’s stock worth $229,000 after acquiring an additional 110,292 shares during the last quarter. Finally, State of Wisconsin Investment Board acquired a new position in Novavax during the 2nd quarter worth approximately $230,000. 44.85% of the stock is owned by institutional investors.
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Several analysts recently weighed in on the company. Zacks Investment Research raised Novavax from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a research note on Wednesday, August 16th. Cantor Fitzgerald reiterated a “hold” rating and issued a $2.00 target price on shares of Novavax in a research report on Wednesday. BidaskClub upgraded Novavax from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Seaport Global Securities reiterated a “neutral” rating on shares of Novavax in a report on Friday, October 6th. Finally, Chardan Capital reiterated a “neutral” rating and issued a $1.50 target price on shares of Novavax in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Novavax currently has an average rating of “Hold” and an average target price of $2.92.
In other news, Director James F. Young sold 175,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $1.06, for a total value of $185,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is currently owned by corporate insiders.
Novavax, Inc. (NVAX) traded down $0.01 during trading hours on Friday, hitting $1.12. The company had a trading volume of 2,289,400 shares, compared to its average volume of 5,938,572. Novavax, Inc. has a 12 month low of $0.73 and a 12 month high of $1.78. The company has a debt-to-equity ratio of -4.28, a quick ratio of 3.54 and a current ratio of 3.31.
Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. The business had revenue of $8.35 million during the quarter, compared to analysts’ expectations of $6.42 million. Novavax had a negative return on equity of 787.38% and a negative net margin of 726.35%. The firm’s revenue was up 158.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.24) earnings per share. research analysts forecast that Novavax, Inc. will post -0.62 earnings per share for the current year.
Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.
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