Northpointe Capital LLC raised its position in Novavax Inc. (NASDAQ:NVAX) by 47.2% during the second quarter, Holdings Channel reports. The fund owned 2,124,035 shares of the biopharmaceutical company’s stock after buying an additional 681,133 shares during the period. Novavax accounts for approximately 1.8% of Northpointe Capital LLC’s holdings, making the stock its 3rd largest position. Northpointe Capital LLC’s holdings in Novavax were worth $15,442,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. State Street Corp boosted its stake in Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock worth $63,579,000 after buying an additional 3,527,714 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock valued at $65,593,000 after buying an additional 3,849,585 shares in the last quarter. Bellevue Group AG acquired a new position in shares of Novavax during the first quarter valued at $1,677,000. BlackRock Inc. boosted its position in shares of Novavax by 138.7% in the first quarter. BlackRock Inc. now owns 19,870 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 11,547 shares in the last quarter. Finally, Deerfield Management Co. acquired a new position in shares of Novavax during the first quarter valued at $12,674,000. 79.84% of the stock is owned by institutional investors and hedge funds.
Shares of Novavax Inc. (NASDAQ:NVAX) remained flat at $2.08 during midday trading on Monday. 11,253,599 shares of the company’s stock were exchanged. The company’s 50 day moving average is $5.65 and its 200-day moving average is $6.01. Novavax Inc. has a 12-month low of $1.16 and a 12-month high of $9.23. The firm’s market cap is $563.33 million.
Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. The firm had revenue of $2.50 million for the quarter, compared to the consensus estimate of $8.03 million. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. The company’s revenue was down 82.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) EPS. Equities research analysts anticipate that Novavax Inc. will post ($1.09) earnings per share for the current fiscal year.
Several brokerages have recently weighed in on NVAX. Zacks Investment Research cut shares of Novavax from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Novavax in a research note on Wednesday, July 27th. Vetr cut shares of Novavax from a “strong-buy” rating to a “buy” rating and set a $8.02 price target for the company. in a research note on Wednesday, June 29th. FBR & Co decreased their price target on shares of Novavax from $17.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, September 16th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $14.00 price target on shares of Novavax in a research note on Wednesday, June 29th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $7.06.
In related news, Director Gail Boudreaux purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was acquired at an average price of $1.45 per share, for a total transaction of $145,000.00. Following the completion of the acquisition, the director now owns 200,000 shares of the company’s stock, valued at approximately $290,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Mcmanus, Jr. purchased 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were bought at an average price of $1.61 per share, with a total value of $48,300.00. Following the acquisition, the director now directly owns 247,590 shares of the company’s stock, valued at approximately $398,619.90. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.
Novavax, Inc (Novavax) is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company through its recombinant nanoparticle vaccine technology produces vaccine candidates to respond to both known and newly emerging diseases.
Want to see what other hedge funds are holding NVAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novavax Inc. (NASDAQ:NVAX).
Receive News & Ratings for Novavax Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novavax Inc. and related companies with MarketBeat.com's FREE daily email newsletter.