Norges Bank bought a new stake in shares of Novavax, Inc. (NASDAQ:NVAX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 558,692 shares of the biopharmaceutical company’s stock, valued at approximately $62,300,000. Norges Bank owned 0.88% of Novavax at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Novavax by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 97,190 shares of the biopharmaceutical company’s stock valued at $10,847,000 after buying an additional 5,090 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Novavax by 497.3% in the 4th quarter. Hsbc Holdings PLC now owns 11,964 shares of the biopharmaceutical company’s stock worth $1,352,000 after purchasing an additional 9,961 shares during the period. EMC Capital Management purchased a new position in shares of Novavax in the 4th quarter worth approximately $112,000. Principal Financial Group Inc. boosted its holdings in shares of Novavax by 29.8% in the 4th quarter. Principal Financial Group Inc. now owns 19,723 shares of the biopharmaceutical company’s stock worth $2,199,000 after purchasing an additional 4,527 shares during the period. Finally, Truist Financial Corp purchased a new position in shares of Novavax in the 4th quarter worth approximately $667,000. Institutional investors and hedge funds own 49.91% of the company’s stock.
In other news, Director Gary C. Evans sold 24,500 shares of the company’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $211.21, for a total value of $5,174,645.00. Following the sale, the director now owns 18,099 shares in the company, valued at $3,822,689.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Trizzino sold 3,021 shares of the company’s stock in a transaction dated Friday, March 5th. The stock was sold at an average price of $163.46, for a total value of $493,812.66. Following the completion of the transaction, the executive vice president now directly owns 704 shares of the company’s stock, valued at approximately $115,075.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,497 shares of company stock worth $13,928,932. 3.30% of the stock is owned by company insiders.
A number of equities analysts have recently commented on NVAX shares. Cantor Fitzgerald lifted their target price on Novavax from $248.00 to $338.00 and gave the stock an “overweight” rating in a report on Friday, February 5th. B. Riley lifted their target price on Novavax from $223.00 to $334.00 and gave the stock a “buy” rating in a report on Monday, February 1st. HC Wainwright lifted their target price on Novavax from $207.00 to $317.00 and gave the stock a “buy” rating in a report on Thursday, March 18th. Finally, Zacks Investment Research raised Novavax from a “sell” rating to a “strong-buy” rating and set a $134.00 price target for the company in a research note 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. Novavax currently has an average rating of “Buy” and a consensus price target of $217.69.
NVAX opened at $194.66 on Wednesday. The firm has a market cap of $14.38 billion, a price-to-earnings ratio of -37.29 and a beta of 2.01. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 3.61. Novavax, Inc. has a 12 month low of $16.41 and a 12 month high of $331.68. The stock has a fifty day moving average price of $197.84 and a 200-day moving average price of $152.61.
Novavax (NASDAQ:NVAX) last released its quarterly earnings results 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). The company had revenue of $279.66 million during the quarter, compared to the consensus estimate of $202.44 million. Novavax had a negative return on equity of 1,346.17% and a negative net margin of 133.10%. The company’s revenue was up 3072.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.13) earnings per share. On average, equities research analysts forecast that Novavax, Inc. will post -5.49 EPS for the current year.
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.
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