Eversept Partners LP Sells 61,964 Shares of Novavax, Inc. $NVAX

Eversept Partners LP reduced its stake in Novavax, Inc. (NASDAQ:NVAX) by 25.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,220 shares of the biopharmaceutical company’s stock after selling 61,964 shares during the period. Eversept Partners LP owned 0.11% of Novavax worth $1,218,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in Novavax in the fourth quarter worth $33,000. Quarry LP acquired a new stake in Novavax in the 3rd quarter worth approximately $33,000. State of Wyoming acquired a new stake in Novavax in the 2nd quarter worth approximately $52,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Novavax by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,896 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,617 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Novavax during the 3rd quarter worth about $64,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Trading Up 3.3%

Novavax stock opened at $9.50 on Thursday. The company has a fifty day simple moving average of $9.06 and a 200-day simple moving average of $8.61. The stock has a market cap of $1.56 billion, a P/E ratio of -16.38 and a beta of 2.45. Novavax, Inc. has a 12-month low of $6.13 and a 12-month high of $11.97.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.19. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.The company had revenue of $118.90 million for the quarter, compared to analysts’ expectations of $79.81 million. During the same period last year, the firm earned $2.93 earnings per share. Novavax’s quarterly revenue was down 79.0% on a year-over-year basis. As a group, sell-side analysts forecast that Novavax, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. BTIG Research reiterated a “buy” rating and set a $19.00 target price on shares of Novavax in a research report on Thursday, June 11th. Jefferies Financial Group reiterated a “buy” rating on shares of Novavax in a report on Thursday, March 12th. B. Riley Financial reissued a “buy” rating on shares of Novavax in a report on Thursday, April 9th. Weiss Ratings cut Novavax from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Finally, TD Cowen increased their target price on Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.00.

Novavax Profile

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.