Novavax, Inc. (NASDAQ:NVAX) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lessened its holdings in Novavax, Inc. (NASDAQ:NVAX) by 80.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,904 shares of the biopharmaceutical company’s stock after selling 63,610 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Novavax were worth $201,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in Novavax in the 1st quarter worth approximately $1,499,000. Edgestream Partners L.P. grew its holdings in shares of Novavax by 23.7% during the first quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 2,447 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Novavax by 29.9% in the 1st quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 8,570 shares during the period. Swiss National Bank raised its stake in Novavax by 17.1% in the 1st quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock worth $1,009,000 after acquiring an additional 30,800 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Novavax by 45.9% during the 4th quarter. Allianz Asset Management GmbH now owns 634,692 shares of the biopharmaceutical company’s stock worth $3,047,000 after acquiring an additional 199,771 shares during the period. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVAX. JPMorgan Chase & Co. increased their price objective on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Bank of America upped their price objective on shares of Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, June 14th. 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.80.

Novavax Price Performance

Shares of NASDAQ NVAX opened at $12.52 on Friday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -3.95 and a beta of 2.04. The firm’s 50 day simple moving average is $13.01 and its 200-day simple moving average is $10.60. Novavax, Inc. has a 12 month low of $3.53 and a 12 month high of $23.86.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share 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. During the same period last year, the firm earned $0.58 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts anticipate that Novavax, Inc. will post -1.04 earnings per share 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.