Squarepoint Ops LLC Buys New Stake in Novavax, Inc. (NASDAQ:NVAX)

Squarepoint Ops LLC purchased a new stake in shares of Novavax, Inc. (NASDAQ:NVAX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 98,777 shares of the biopharmaceutical company’s stock, valued at approximately $1,251,000. Squarepoint Ops LLC owned approximately 0.07% of Novavax as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Shah Capital Management lifted its stake in shares of Novavax by 19.0% in the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock valued at $122,322,000 after purchasing an additional 1,544,263 shares during the last quarter. Coatue Management LLC purchased a new stake in Novavax during the 4th quarter valued at $7,294,000. Farallon Capital Management LLC bought a new stake in Novavax in the first quarter worth $5,406,000. Renaissance Technologies LLC purchased a new position in Novavax during the second quarter worth $14,055,000. Finally, Marshall Wace LLP bought a new position in Novavax during the second quarter valued at $4,592,000. Institutional investors own 53.04% of the company’s stock.

Novavax Stock Down 5.6 %

Shares of NASDAQ:NVAX opened at $13.61 on Friday. The business’s 50 day moving average is $12.50 and its 200 day moving average is $11.24. The stock has a market cap of $1.91 billion, a P/E ratio of -4.29 and a beta of 2.04. Novavax, Inc. has a 52-week low of $3.53 and a 52-week high of $23.86.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on NVAX. B. Riley restated a “buy” rating and issued a $23.00 target price (down previously from $25.00) on shares of Novavax in a report on Monday, August 12th. Bank of America boosted their target price on Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. increased their price target on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group restated a “buy” rating and set a $31.00 price objective on shares of Novavax in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $18.33.

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.