Quest Partners LLC Reduces Stock Holdings in Novavax, Inc. (NASDAQ:NVAX)

Quest Partners LLC lessened its holdings in shares of Novavax, Inc. (NASDAQ:NVAX) by 94.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,737 shares of the biopharmaceutical company’s stock after selling 44,090 shares during the period. Quest Partners LLC’s holdings in Novavax were worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Novavax by 17.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,065 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 8,128 shares during the period. California State Teachers Retirement System boosted its position in Novavax by 11.3% in the 1st quarter. California State Teachers Retirement System now owns 107,511 shares of the biopharmaceutical company’s stock worth $514,000 after purchasing an additional 10,949 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Novavax during the 1st quarter worth approximately $172,000. Swedbank AB purchased a new position in shares of Novavax during the 1st quarter valued at approximately $26,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Novavax in the 2nd quarter valued at $216,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Stock Performance

Shares of NVAX opened at $8.72 on Monday. The stock has a 50 day moving average price of $10.40 and a 200 day moving average price of $12.56. Novavax, Inc. has a one year low of $3.53 and a one year high of $23.86. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -3.86 and a beta of 2.10.

Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.07. The business had revenue of $84.51 million for the quarter, compared to analysts’ expectations of $65.80 million. Novavax’s quarterly revenue was down 54.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.26) EPS. On average, analysts predict that Novavax, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVAX. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Novavax in a report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price target on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. B. Riley reiterated a “buy” rating and set a $26.00 price target (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Finally, Jefferies Financial Group cut their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.83.

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.