Alpine Global Management LLC Makes New Investment in Novavax, Inc. (NASDAQ:NVAX)

Alpine Global Management LLC bought a new position in Novavax, Inc. (NASDAQ:NVAX) 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) 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.