Novavax, Inc. (NASDAQ:NVAX) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in Novavax, Inc. (NASDAQ:NVAX) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,428 shares of the biopharmaceutical company’s stock after purchasing an additional 4,045 shares during the period. Federated Hermes Inc.’s holdings in Novavax were worth $626,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Shah Capital Management grew its stake in shares of Novavax by 4.3% in the 1st quarter. Shah Capital Management now owns 8,117,827 shares of the biopharmaceutical company’s stock worth $38,803,000 after purchasing an additional 337,071 shares during the last quarter. Rafferty Asset Management LLC grew its stake in shares of Novavax by 62.4% in the 4th quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock worth $7,737,000 after purchasing an additional 619,370 shares during the last quarter. Coatue Management LLC acquired a new position in shares of Novavax in the 4th quarter worth approximately $7,294,000. TSP Capital Management Group LLC increased its position in shares of Novavax by 23.9% in the first quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock worth $6,582,000 after acquiring an additional 265,250 shares in the last quarter. Finally, Farallon Capital Management LLC purchased a new position in shares of Novavax in the first quarter worth approximately $5,406,000. Institutional investors and hedge funds own 53.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NVAX. JPMorgan Chase & Co. boosted their price target on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. B. Riley restated a “buy” rating and set a $23.00 price target (down previously from $25.00) on shares of Novavax in a report on Monday, August 12th. Finally, Bank of America boosted their price target on shares of Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Novavax presently has an average rating of “Hold” and an average price target of $15.80.

Novavax Stock Performance

Novavax stock opened at $12.91 on Monday. The firm has a market cap of $1.81 billion, a PE ratio of -4.07 and a beta of 2.04. The firm’s 50 day moving average price is $13.01 and its two-hundred day moving average price is $10.73. Novavax, Inc. has a twelve month low of $3.53 and a twelve 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 the consensus estimate of $1.82 by ($0.83). The business had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $458.57 million. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 EPS. Equities analysts anticipate that Novavax, Inc. will post -1.04 EPS for the current fiscal 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.