Principal Financial Group Inc. Purchases 4,527 Shares of Novavax, Inc. (NASDAQ:NVAX)


Share on StockTwits

Principal Financial Group Inc. grew its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 29.8% in the fourth quarter, Holdings Channel reports. The firm owned 19,723 shares of the biopharmaceutical company’s stock after acquiring an additional 4,527 shares during the period. Principal Financial Group Inc.’s holdings in Novavax were worth $2,199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Truist Financial Corp purchased a new stake in shares of Novavax during the fourth quarter valued at $667,000. Samsara BioCapital LLC boosted its stake in shares of Novavax by 39.2% during the fourth quarter. Samsara BioCapital LLC now owns 30,160 shares of the biopharmaceutical company’s stock valued at $3,363,000 after purchasing an additional 8,500 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Novavax during the fourth quarter valued at $56,000. Cetera Advisors LLC boosted its stake in shares of Novavax by 1.7% during the fourth quarter. Cetera Advisors LLC now owns 8,251 shares of the biopharmaceutical company’s stock valued at $920,000 after purchasing an additional 141 shares during the period. Finally, HighVista Strategies LLC purchased a new stake in Novavax in the fourth quarter worth about $638,000. 49.91% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Gary C. Evans sold 24,500 shares of the stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $211.21, for a total transaction of $5,174,645.00. Following the transaction, the director now owns 18,099 shares in the company, valued at approximately $3,822,689.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Trizzino sold 3,021 shares of the stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $163.46, for a total value of $493,812.66. Following the transaction, the executive vice president now owns 704 shares in the company, valued at approximately $115,075.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,626 shares of company stock worth $15,604,400. Insiders own 3.30% of the company’s stock.

A number of analysts recently weighed in on NVAX shares. HC Wainwright upped their price objective on shares of Novavax from $207.00 to $317.00 and gave the stock a “buy” rating in a research note on Thursday, March 18th. Cantor Fitzgerald upped their price objective on shares of Novavax from $248.00 to $338.00 and gave the stock an “overweight” rating in a research note on Friday, February 5th. B. Riley boosted their target price on shares of Novavax from $223.00 to $334.00 and gave the stock a “buy” rating in a report on Monday, February 1st. Finally, Zacks Investment Research upgraded shares of Novavax from a “sell” rating to a “strong-buy” rating and set a $134.00 target price for the company in a report on Tuesday, January 12th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $217.69.

Shares of NASDAQ:NVAX opened at $207.30 on Friday. Novavax, Inc. has a twelve month low of $16.41 and a twelve month high of $331.68. The company’s 50 day moving average is $194.49 and its 200 day moving average is $157.38. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 3.61. The company has a market cap of $15.31 billion, a PE ratio of -39.71 and a beta of 2.01.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Monday, March 1st. The biopharmaceutical company reported ($2.70) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.53) by ($1.17). Novavax had a negative return on equity of 1,346.17% and a negative net margin of 133.10%. The company had revenue of $279.66 million during the quarter, compared to analysts’ expectations of $202.44 million. During the same quarter in the prior year, the company posted ($1.13) EPS. The company’s revenue for the quarter was up 3072.2% on a year-over-year basis. Equities research analysts predict that Novavax, Inc. will post -5.49 earnings per share for the current fiscal year.

About Novavax

Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.

Further Reading: Conference Calls and Individual Investors

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).

Institutional Ownership by Quarter for Novavax (NASDAQ:NVAX)

Receive News & Ratings for Novavax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novavax and related companies with MarketBeat.com's FREE daily email newsletter.