Novavax, Inc. (NASDAQ:NVAX) Shares Bought by Shah Capital Management

Shah Capital Management boosted its position in Novavax, Inc. (NASDAQ:NVAX) by 19.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,662,090 shares of the biopharmaceutical company’s stock after buying an additional 1,544,263 shares during the quarter. Novavax makes up about 26.4% of Shah Capital Management’s investment portfolio, making the stock its 2nd largest position. Shah Capital Management owned 0.07% of Novavax worth $122,322,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVAX. Victory Capital Management Inc. bought a new stake in shares of Novavax during the fourth quarter valued at approximately $72,000. BNP Paribas Financial Markets boosted its position in Novavax by 48.3% during the 4th quarter. BNP Paribas Financial Markets now owns 861,479 shares of the biopharmaceutical company’s stock worth $4,135,000 after acquiring an additional 280,381 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Novavax by 45.9% in the fourth quarter. Allianz Asset Management GmbH now owns 634,692 shares of the biopharmaceutical company’s stock worth $3,047,000 after purchasing an additional 199,771 shares in the last quarter. Rafferty Asset Management LLC raised its stake in shares of Novavax by 62.4% during the fourth quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock valued at $7,737,000 after purchasing an additional 619,370 shares in the last quarter. Finally, Pennant Investors LP bought a new stake in shares of Novavax during the fourth quarter valued at about $289,000. 53.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on NVAX. Bank of America raised their target price on shares of Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. increased their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Finally, B. Riley reissued a “buy” rating and set a $23.00 target price (down previously from $25.00) on shares of Novavax in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Novavax currently has a consensus rating of “Hold” and an average price target of $15.80.

Insider Buying and Selling

In other Novavax news, Director James F. Young sold 7,500 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $14.09, for a total transaction of $105,675.00. Following the sale, the director now directly owns 61,760 shares of the company’s stock, valued at approximately $870,198.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Novavax Stock Down 2.0 %

Shares of Novavax stock opened at $12.93 on Wednesday. Novavax, Inc. has a 12-month low of $3.53 and a 12-month high of $23.86. The firm has a market capitalization of $1.82 billion, a PE ratio of -4.08 and a beta of 2.04. The stock’s fifty day moving average is $13.01 and its 200-day moving average is $10.58.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The business had revenue of $415.50 million for the quarter, compared to the consensus estimate of $458.57 million. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share. Analysts expect that Novavax, Inc. will post -1.04 EPS for the current year.

About Novavax

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.