E Fund Management Co. Ltd. Grows Stake in Novavax, Inc. (NASDAQ:NVAX)

E Fund Management Co. Ltd. lifted its position in Novavax, Inc. (NASDAQ:NVAX) by 69.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,558 shares of the biopharmaceutical company’s stock after buying an additional 35,581 shares during the period. E Fund Management Co. Ltd. owned approximately 0.07% of Novavax worth $415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. purchased a new position in shares of Novavax in the 4th quarter worth $72,000. Shah Capital Management lifted its position in Novavax by 22.9% during the fourth quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock valued at $37,348,000 after purchasing an additional 1,450,000 shares in the last quarter. abrdn plc purchased a new position in Novavax during the fourth quarter valued at $306,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Novavax by 45.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,739 shares of the biopharmaceutical company’s stock valued at $421,000 after purchasing an additional 27,436 shares in the last quarter. Finally, Strs Ohio lifted its position in Novavax by 24.5% during the fourth quarter. Strs Ohio now owns 100,200 shares of the biopharmaceutical company’s stock valued at $480,000 after purchasing an additional 19,700 shares in the last quarter. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Novavax Stock Performance

Shares of NASDAQ NVAX remained flat at $4.47 during trading hours on Thursday. The company had a trading volume of 4,454,522 shares, compared to its average volume of 7,090,978. The company has a 50-day moving average price of $4.67 and a two-hundred day moving average price of $4.99. The firm has a market cap of $627.60 million, a price-to-earnings ratio of -0.82 and a beta of 1.63. Novavax, Inc. has a 12-month low of $3.53 and a 12-month high of $10.30.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.95). The firm had revenue of $291.34 million during the quarter, compared to analyst estimates of $310.96 million. The company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.28) earnings per share. As a group, equities research analysts anticipate that Novavax, Inc. will post -0.82 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lowered their target price on Novavax from $35.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 1st.

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.