Arizona State Retirement System Acquires 5,891 Shares of Novavax, Inc. (NASDAQ:NVAX)

Arizona State Retirement System grew its holdings in shares of Novavax, Inc. (NASDAQ:NVAX) by 20.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 35,273 shares of the biopharmaceutical company’s stock after acquiring an additional 5,891 shares during the period. Arizona State Retirement System’s holdings in Novavax were worth $447,000 as of its most recent SEC filing.

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

Novavax Trading Down 3.0 %

Shares of NVAX stock opened at $13.20 on Tuesday. The firm has a fifty day simple moving average of $12.99 and a two-hundred day simple moving average of $10.52. Novavax, Inc. has a 12 month low of $3.53 and a 12 month high of $23.86. The firm has a market capitalization of $1.85 billion, a PE ratio of -4.16 and a beta of 2.04.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The firm had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $458.57 million. During the same period in the prior year, the company earned $0.58 EPS. Novavax’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts predict that Novavax, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James F. Young sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $14.09, for a total value of $105,675.00. Following the transaction, the director now owns 61,760 shares in the company, valued at $870,198.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America lifted their target price on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, June 14th. B. Riley reiterated a “buy” rating and set a $23.00 target price (down previously from $25.00) on shares of Novavax in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.80.

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.