Novavax, Inc. (NASDAQ:NVAX) Holdings Trimmed by Verition Fund Management LLC

Verition Fund Management LLC reduced its position in shares of Novavax, Inc. (NASDAQ:NVAX) by 57.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,483 shares of the biopharmaceutical company’s stock after selling 50,818 shares during the period. Verition Fund Management LLC’s holdings in Novavax were worth $473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Banque Cantonale Vaudoise lifted its holdings in shares of Novavax by 500.0% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,500 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Novavax by 26.9% during the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 1,036 shares in the last quarter. Signaturefd LLC increased its stake in shares of Novavax by 214.5% in the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 3,874 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Novavax by 38.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 1,598 shares in the last quarter. Finally, Midland Wealth Advisors LLC acquired a new position in Novavax in the second quarter worth approximately $152,000. 53.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Jefferies Financial Group reduced their target price on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. HC Wainwright reissued a “buy” rating and set a $19.00 target price on shares of Novavax in a research report on Tuesday. Finally, B. Riley restated a “buy” rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.83.

Novavax Stock Performance

Shares of NVAX opened at $8.82 on Thursday. The stock has a fifty day moving average price of $9.73 and a two-hundred day moving average price of $12.24. Novavax, Inc. has a 52-week low of $3.53 and a 52-week high of $23.86. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -3.90 and a beta of 2.02.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. The company had revenue of $84.51 million during the quarter, compared to analyst estimates of $65.80 million. The business’s revenue for the quarter was down 54.8% on a year-over-year basis. During the same period in the prior year, the business earned ($1.26) EPS. As a group, research analysts predict that Novavax, Inc. will post -1.44 EPS for the current fiscal year.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.