Rhumbline Advisers Increases Holdings in Novavax, Inc. (NASDAQ:NVAX)

Rhumbline Advisers increased its stake in Novavax, Inc. (NASDAQ:NVAX) by 39.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199,909 shares of the biopharmaceutical company’s stock after purchasing an additional 56,324 shares during the quarter. Rhumbline Advisers owned about 0.14% of Novavax worth $2,531,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NVAX. Victory Capital Management Inc. purchased a new position in shares of Novavax in the fourth quarter valued at $72,000. BNP Paribas Financial Markets grew its position in shares of Novavax by 48.3% in the fourth quarter. BNP Paribas Financial Markets now owns 861,479 shares of the biopharmaceutical company’s stock valued at $4,135,000 after purchasing an additional 280,381 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Novavax by 45.9% in the fourth 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. Rafferty Asset Management LLC boosted its stake in Novavax by 62.4% during the fourth quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock valued at $7,737,000 after buying an additional 619,370 shares during the period. Finally, Pennant Investors LP bought a new stake in Novavax during the fourth quarter valued at $289,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director James F. Young sold 7,500 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $14.09, for a total value of $105,675.00. Following the completion of the sale, the director now owns 61,760 shares of the company’s stock, valued at approximately $870,198.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NVAX. Bank of America lifted their price objective on Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. B. Riley reissued a “buy” rating and set a $23.00 price objective (down previously from $25.00) on shares of Novavax in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.80.

Novavax Stock Down 2.9 %

Shares of NVAX stock opened at $12.56 on Thursday. The business has a 50-day moving average price of $13.02 and a two-hundred day moving average price of $10.59. Novavax, Inc. has a 12-month low of $3.53 and a 12-month high of $23.86. The firm has a market cap of $1.76 billion, a P/E ratio of -3.96 and a beta of 2.04.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.83). The business had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $458.57 million. During the same period in the prior year, the business posted $0.58 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. As a group, research analysts expect 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.