Alpine Global Management LLC bought a new position in Novavax, Inc. (NASDAQ:NVAX – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 10,225 shares of the biopharmaceutical company’s stock, valued at approximately $49,000.
A number of other institutional investors have also bought and sold shares of the business. Edgestream Partners L.P. lifted its holdings in Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 2,447 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Novavax by 31.6% in the first 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 in the last quarter. Tower Research Capital LLC TRC lifted its position in Novavax by 102.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,944 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 7,072 shares during the last quarter. American International Group Inc. grew its stake in shares of Novavax by 17.9% in the 1st quarter. American International Group Inc. now owns 55,832 shares of the biopharmaceutical company’s stock worth $267,000 after buying an additional 8,492 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings 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 buying an additional 8,570 shares during the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on NVAX. HC Wainwright reiterated a “buy” rating and set a $19.00 target price on shares of Novavax in a research report on Monday, May 13th. Bank of America upped their target price on shares of Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. B. Riley increased their price objective on Novavax from $11.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. TD Cowen upped their price target on shares of Novavax from $5.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Finally, JPMorgan Chase & Co. upgraded Novavax from an “underweight” rating to a “neutral” rating in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.00.
Insider Transactions at Novavax
In related news, insider Filip Dubovsky sold 47,312 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total value of $657,636.80. Following the transaction, the insider now directly owns 38,953 shares in the company, valued at $541,446.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Filip Dubovsky sold 47,312 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $13.90, for a total transaction of $657,636.80. Following the sale, the insider now owns 38,953 shares of the company’s stock, valued at $541,446.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James F. Young sold 7,500 shares of Novavax stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $14.09, for a total transaction of $105,675.00. Following the completion of the transaction, the director now owns 61,760 shares of the company’s stock, valued at approximately $870,198.40. The disclosure for this sale can be found here. Insiders sold 62,312 shares of company stock worth $866,212 in the last 90 days. Insiders own 0.90% of the company’s stock.
Novavax Trading Up 2.6 %
NVAX stock traded up $0.44 during mid-day trading on Friday, reaching $17.11. The company’s stock had a trading volume of 7,143,752 shares, compared to its average volume of 7,195,673. The stock has a market cap of $2.40 billion, a PE ratio of -5.40 and a beta of 1.98. The company’s 50 day moving average is $14.86 and its two-hundred day moving average is $8.47. Novavax, Inc. has a fifty-two week low of $3.53 and a fifty-two week high of $23.86.
Novavax (NASDAQ:NVAX – Get Free Report) last announced its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The firm had revenue of $93.90 million for the quarter, compared to analysts’ expectations of $71.32 million. During the same quarter last year, the firm posted ($3.41) earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. On average, analysts forecast that Novavax, Inc. will post 0.49 earnings per share 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.
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