Arizona State Retirement System Increases Stock Position in Novavax, Inc. (NASDAQ:NVAX)

Arizona State Retirement System increased its position in Novavax, Inc. (NASDAQ:NVAX) by 14.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,793 shares of the biopharmaceutical company’s stock after buying an additional 5,407 shares during the quarter. Arizona State Retirement System’s holdings in Novavax were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new stake in Novavax during the fourth quarter worth about $29,000. KBC Group NV increased its position in Novavax by 97.0% during the 4th quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 3,917 shares in the last quarter. TigerOak Management L.L.C. purchased a new position in Novavax in the fourth quarter valued at approximately $86,000. Beirne Wealth Consulting Services LLC lifted its position in Novavax by 65.0% during the fourth quarter. Beirne Wealth Consulting Services LLC now owns 16,500 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 6,500 shares in the last quarter. Finally, US Bancorp DE grew its stake in Novavax by 3,538.8% during the third quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 11,961 shares during the period. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Price Performance

NASDAQ:NVAX opened at $7.99 on Friday. The firm has a 50-day moving average of $8.44 and a two-hundred day moving average of $9.65. The stock has a market cap of $1.29 billion, a P/E ratio of -3.54, a PEG ratio of 2.85 and a beta of 2.92. Novavax, Inc. has a 1-year low of $3.81 and a 1-year high of $23.86.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.24. The business had revenue of $88.31 million during the quarter, compared to analysts’ expectations of $85.48 million. During the same period in the prior year, the company posted ($1.44) EPS. As a group, equities analysts expect that Novavax, Inc. will post -1.46 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James F. Young sold 5,400 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total transaction of $43,200.00. Following the transaction, the director now owns 51,760 shares of the company’s stock, valued at approximately $414,080. This trade represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

NVAX has been the topic of a number of research reports. TD Cowen raised shares of Novavax to a “hold” rating in a research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research report on Tuesday, December 10th. Finally, BTIG Research began coverage on Novavax in a research report on Friday, February 28th. They issued a “buy” rating and a $19.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.00.

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.