Monaco Asset Management SAM boosted its stake in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 356.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,000 shares of the biopharmaceutical company's stock after purchasing an additional 222,500 shares during the quarter. Novavax comprises approximately 0.3% of Monaco Asset Management SAM's investment portfolio, making the stock its 28th biggest position. Monaco Asset Management SAM owned about 0.18% of Novavax worth $2,291,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. E Fund Management Co. Ltd. boosted its position in Novavax by 5.1% during the fourth quarter. E Fund Management Co. Ltd. now owns 25,340 shares of the biopharmaceutical company's stock worth $204,000 after purchasing an additional 1,219 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Novavax by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company's stock valued at $3,509,000 after acquiring an additional 1,664 shares during the period. Victory Capital Management Inc. boosted its position in shares of Novavax by 12.0% in the third quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company's stock valued at $244,000 after acquiring an additional 2,072 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Novavax by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,965 shares of the biopharmaceutical company's stock valued at $273,000 after acquiring an additional 3,174 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Novavax by 8.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 43,034 shares of the biopharmaceutical company's stock valued at $346,000 after acquiring an additional 3,236 shares during the period. 53.04% of the stock is owned by institutional investors.
Insider Activity at Novavax
In related news, Director James F. Young sold 5,400 shares of the company's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total value of $43,200.00. Following the sale, the director now directly owns 51,760 shares of the company's stock, valued at $414,080. This represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. BTIG Research initiated coverage on Novavax in a research note on Friday, February 28th. They issued a "buy" rating and a $19.00 price target for the company. HC Wainwright reissued a "buy" rating and issued a $19.00 price target on shares of Novavax in a research report on Tuesday, December 10th. Finally, TD Cowen upgraded Novavax to a "hold" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $18.00.
Read Our Latest Stock Analysis on Novavax
Novavax Stock Performance
NASDAQ:NVAX traded down $0.43 during mid-day trading on Tuesday, reaching $7.95. The stock had a trading volume of 5,012,636 shares, compared to its average volume of 8,011,093. The firm has a 50 day moving average price of $8.41 and a two-hundred day moving average price of $9.62. The stock has a market capitalization of $1.28 billion, a P/E ratio of -3.52, a P/E/G ratio of 2.85 and a beta of 2.92. Novavax, Inc. has a one year low of $3.81 and a one year high of $23.86.
Novavax (NASDAQ:NVAX - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.24. The company had revenue of $88.31 million during the quarter, compared to the consensus estimate of $85.48 million. During the same quarter in the previous year, the firm posted ($1.44) EPS. Research analysts forecast that Novavax, Inc. will post -1.46 earnings per share for the current year.
About Novavax
(
Free Report)
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.
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