Novavax, Inc. $NVAX Shares Bought by Shah Capital Management

Shah Capital Management lifted its holdings in shares of Novavax, Inc. (NASDAQ:NVAX) by 23.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,558,780 shares of the biopharmaceutical company’s stock after acquiring an additional 2,747,000 shares during the period. Novavax makes up about 18.9% of Shah Capital Management’s investment portfolio, making the stock its 2nd biggest position. Shah Capital Management owned 0.09% of Novavax worth $97,835,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Novavax in the fourth quarter valued at about $126,000. SG Americas Securities LLC raised its position in Novavax by 6.3% in the fourth quarter. SG Americas Securities LLC now owns 976,388 shares of the biopharmaceutical company’s stock worth $6,561,000 after purchasing an additional 57,705 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in Novavax during the third quarter worth about $138,000. Danske Bank A S bought a new position in Novavax during the third quarter worth about $64,000. Finally, XTX Topco Ltd acquired a new stake in Novavax during the third quarter valued at approximately $1,146,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Stock Performance

NASDAQ:NVAX opened at $8.09 on Tuesday. Novavax, Inc. has a 1 year low of $5.01 and a 1 year high of $11.97. The firm has a 50 day moving average of $9.38 and a 200-day moving average of $8.28. The company has a current ratio of 2.13, a quick ratio of 2.10 and a debt-to-equity ratio of 5.93. The stock has a market capitalization of $1.32 billion, a P/E ratio of 3.36 and a beta of 2.54.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.77. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.The business had revenue of $136.40 million for the quarter, compared to analyst estimates of $90.26 million. During the same period in the prior year, the company earned ($0.51) EPS. Novavax’s revenue for the quarter was up 66.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Novavax, Inc. will post -1.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Novavax in a research note on Thursday, March 12th. BTIG Research reaffirmed a “buy” rating and issued a $19.00 price target on shares of Novavax in a research note on Tuesday, January 20th. Weiss Ratings upgraded Novavax from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 12th. HC Wainwright increased their price objective on Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Novavax presently has a consensus rating of “Hold” and a consensus price target of $11.88.

Novavax Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.