Novavax, Inc. (NASDAQ:NVAX) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lessened its stake in Novavax, Inc. (NASDAQ:NVAX) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,986 shares of the biopharmaceutical company’s stock after selling 1,898 shares during the quarter. Martingale Asset Management L P’s holdings in Novavax were worth $442,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Shah Capital Management boosted its position in Novavax by 19.0% in the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after purchasing an additional 1,544,263 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Novavax during the second quarter worth $14,055,000. SG Americas Securities LLC grew its position in Novavax by 940.7% during the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock valued at $14,579,000 after buying an additional 1,043,363 shares during the period. Bank of Montreal Can increased its holdings in Novavax by 26.7% in the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock valued at $32,643,000 after buying an additional 517,727 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Novavax in the second quarter worth about $4,592,000. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NVAX shares. B. Riley restated a “buy” rating and issued a $26.00 price target (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. 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 research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Novavax in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.83.

Novavax Stock Performance

NASDAQ NVAX opened at $8.41 on Wednesday. The business has a fifty day moving average price of $10.23 and a 200 day moving average price of $12.49. The company has a market cap of $1.35 billion, a P/E ratio of -3.72 and a beta of 2.02. Novavax, Inc. has a one year low of $3.53 and a one year high of $23.86.

Novavax (NASDAQ:NVAX) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. The business had revenue of $84.51 million during the quarter, compared to analyst estimates of $65.80 million. Novavax’s quarterly revenue was down 54.8% on a year-over-year basis. During the same quarter last year, the company earned ($1.26) earnings per share. As a group, sell-side analysts predict that Novavax, Inc. will post -1.4 EPS for the current fiscal year.

Novavax 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.