Xponance Inc. Buys New Position in Novavax, Inc. (NASDAQ:NVAX)

Xponance Inc. bought a new position in shares of Novavax, Inc. (NASDAQ:NVAX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,831 shares of the biopharmaceutical company’s stock, valued at approximately $95,000.

A number of other hedge funds have also added to or reduced their stakes in the business. E Fund Management Co. Ltd. grew its position in shares of Novavax by 5.1% during the 4th quarter. E Fund Management Co. Ltd. now owns 25,340 shares of the biopharmaceutical company’s stock worth $204,000 after buying an additional 1,219 shares during the period. Bank of New York Mellon Corp boosted its stake in Novavax by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company’s stock worth $3,509,000 after acquiring an additional 1,664 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Novavax by 12.0% in the third quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock worth $244,000 after purchasing an additional 2,072 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Novavax by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,965 shares of the biopharmaceutical company’s stock valued at $273,000 after purchasing an additional 3,174 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Novavax by 8.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 43,034 shares of the biopharmaceutical company’s stock valued at $346,000 after purchasing an additional 3,236 shares during the period. 53.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Novavax news, Director James F. Young sold 5,400 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total value of $43,200.00. Following the completion of the sale, the director now directly owns 51,760 shares of the company’s stock, valued at $414,080. This trade represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. BTIG Research initiated coverage on Novavax in a research note on Friday, February 28th. They issued a “buy” rating and a $19.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research note on Tuesday, December 10th. Finally, TD Cowen raised Novavax to a “hold” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Novavax Stock Performance

Shares of NVAX stock opened at $7.00 on Friday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -3.10, a PEG ratio of 2.85 and a beta of 2.92. Novavax, Inc. has a 52-week low of $3.81 and a 52-week high of $23.86. The company has a 50-day simple moving average of $8.13 and a two-hundred day simple moving average of $9.34.

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 for the quarter, compared to analysts’ expectations of $85.48 million. During the same period in the previous year, the business posted ($1.44) earnings per share. On average, sell-side analysts forecast that Novavax, Inc. will post -1.46 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.