Farallon Capital Management LLC Purchases 764,000 Shares of Novavax, Inc. $NVAX

Farallon Capital Management LLC increased its position in shares of Novavax, Inc. (NASDAQ:NVAX) by 4,775.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 780,000 shares of the biopharmaceutical company’s stock after buying an additional 764,000 shares during the quarter. Farallon Capital Management LLC owned about 0.48% of Novavax worth $6,763,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVAX. State of Wyoming acquired a new stake in Novavax in the second quarter valued at approximately $52,000. Insigneo Advisory Services LLC acquired a new position in shares of Novavax during the third quarter worth approximately $87,000. Vise Technologies Inc. bought a new position in shares of Novavax in the 2nd quarter worth $70,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Novavax by 11.0% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,755 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Man Group plc acquired a new stake in Novavax in the 2nd quarter valued at $81,000. Institutional investors own 53.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. HC Wainwright boosted their price target on shares of Novavax from $11.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. reduced their price objective on shares of Novavax from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday, November 18th. BTIG Research reissued a “buy” rating and set a $19.00 target price on shares of Novavax in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Novavax in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Novavax has an average rating of “Hold” and an average target price of $11.88.

Novavax Trading Down 0.7%

NASDAQ:NVAX opened at $10.23 on Monday. Novavax, Inc. has a 12 month low of $5.01 and a 12 month high of $11.97. The company has a current ratio of 2.13, a quick ratio of 2.10 and a debt-to-equity ratio of 5.93. The firm’s 50 day moving average is $9.01 and its 200 day moving average is $8.14. The stock has a market capitalization of $1.67 billion, a PE ratio of 4.24 and a beta of 2.54.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.77. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.The business had revenue of $136.40 million during the quarter, compared to analyst estimates of $90.26 million. During the same period in the prior year, the company earned ($0.51) earnings per share. Novavax’s revenue was up 66.6% compared to the same quarter last year. Sell-side analysts expect that Novavax, Inc. will post -1.46 earnings per share for the current year.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.