Jacobi Capital Management LLC bought a new position in shares of Novavax, Inc. (NASDAQ:NVAX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 260 shares of the biopharmaceutical company’s stock, valued at approximately $47,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swiss National Bank lifted its position in shares of Novavax by 5.4% during the fourth quarter. Swiss National Bank now owns 138,500 shares of the biopharmaceutical company’s stock worth $15,444,000 after purchasing an additional 7,100 shares in the last quarter. Pillar Pacific Capital Management LLC acquired a new position in shares of Novavax during the fourth quarter worth $1,438,000. Treasurer of the State of North Carolina acquired a new position in shares of Novavax during the first quarter worth $3,487,000. First Trust Advisors LP acquired a new position in shares of Novavax during the fourth quarter worth $4,021,000. Finally, Varma Mutual Pension Insurance Co acquired a new position in shares of Novavax during the fourth quarter worth $1,115,000. 56.59% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on NVAX. Cantor Fitzgerald reduced their target price on shares of Novavax from $338.00 to $217.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 12th. B. Riley cut their price target on shares of Novavax from $365.00 to $286.00 and set a “buy” rating on the stock in a report on Wednesday, May 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $161.00 price target (down from $285.00) on shares of Novavax in a report on Tuesday, May 18th. HC Wainwright cut their price target on shares of Novavax from $317.00 to $294.00 and set a “buy” rating on the stock in a report on Wednesday, May 12th. Finally, Zacks Investment Research cut shares of Novavax from a “hold” rating to a “strong sell” rating and set a $118.00 price target on the stock. in a report on Wednesday, May 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $202.29.
Novavax (NASDAQ:NVAX) last issued its earnings results on Monday, May 10th. The biopharmaceutical company reported ($3.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.65) by ($0.40). The business had revenue of $447.00 million for the quarter, compared to analyst estimates of $233.90 million. Novavax had a negative return on equity of 125.71% and a negative net margin of 66.90%. The firm’s revenue for the quarter was up 13124.9% on a year-over-year basis. During the same period last year, the company posted ($0.58) earnings per share. On average, sell-side analysts predict that Novavax, Inc. will post -6.19 earnings per share for the current fiscal year.
In other news, Director Gary C. Evans sold 24,500 shares of the company’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $211.21, for a total transaction of $5,174,645.00. Following the completion of the transaction, the director now owns 18,099 shares in the company, valued at $3,822,689.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James F. Young sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 23rd. The stock was sold at an average price of $228.22, for a total transaction of $2,282,200.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,564,400. The disclosure for this sale can be found here. Insiders have sold 77,969 shares of company stock worth $15,653,486 over the last three months. 2.10% of the stock is owned by corporate insiders.
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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