Farallon Capital Management LLC Sells 753,750 Shares of Novavax, Inc. (NASDAQ:NVAX)

Farallon Capital Management LLC reduced its position in Novavax, Inc. (NASDAQ:NVAX) by 66.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 377,250 shares of the biopharmaceutical company’s stock after selling 753,750 shares during the period. Farallon Capital Management LLC owned 0.27% of Novavax worth $4,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVAX. Swedbank AB bought a new stake in Novavax in the 1st quarter worth approximately $26,000. Banque Cantonale Vaudoise raised its stake in Novavax by 500.0% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,500 shares in the last quarter. Herr Investment Group LLC bought a new position in Novavax during the first quarter valued at $48,000. Alpine Global Management LLC bought a new stake in shares of Novavax in the 1st quarter worth about $49,000. Finally, Ameritas Investment Partners Inc. increased its position in shares of Novavax by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 2,711 shares during the last quarter. 53.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVAX. Bank of America boosted their price objective on shares of Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. B. Riley reaffirmed a “buy” rating and set a $23.00 price target (down from $25.00) on shares of Novavax in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. One 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. According to MarketBeat, Novavax presently has an average rating of “Hold” and an average target price of $15.80.

Novavax Trading Down 0.9 %

Shares of NVAX opened at $12.80 on Tuesday. The firm has a market capitalization of $1.80 billion, a P/E ratio of -4.04 and a beta of 2.04. Novavax, Inc. has a 12-month low of $3.53 and a 12-month high of $23.86. The firm has a fifty day moving average price of $12.96 and a 200-day moving average price of $10.78.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results 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 firm had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $458.57 million. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share. Analysts predict that Novavax, Inc. will post -1.04 earnings per share for the current 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.