Novavax, Inc. (NASDAQ:NVAX) is Shah Capital Management's 2nd Largest Position

Shah Capital Management lifted its position in Novavax, Inc. (NASDAQ:NVAX - Free Report) by 19.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,662,090 shares of the biopharmaceutical company's stock after purchasing an additional 1,544,263 shares during the period. Novavax comprises approximately 26.4% of Shah Capital Management's portfolio, making the stock its 2nd biggest holding. Shah Capital Management owned about 6.88% of Novavax worth $122,322,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB purchased a new position in shares of Novavax during the 1st quarter worth approximately $26,000. Banque Cantonale Vaudoise raised its stake in shares of Novavax by 500.0% in the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 2,500 shares during the last quarter. Herr Investment Group LLC bought a new position in shares of Novavax during the first quarter valued at $48,000. Alpine Global Management LLC purchased a new stake in shares of Novavax during the first quarter valued at $49,000. Finally, Ameritas Investment Partners Inc. increased its holdings in Novavax by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 2,711 shares in the last quarter. 53.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an "underweight" rating in a research report on Monday, August 12th. Bank of America upped their price objective on Novavax from $12.00 to $18.00 and gave the stock a "neutral" rating in a research note on Friday, June 14th. Finally, B. Riley reiterated a "buy" rating and set a $23.00 target price (down from $25.00) on shares of Novavax in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Novavax has a consensus rating of "Hold" and an average target price of $15.80.

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Insider Buying and Selling at Novavax

In related news, Director James F. Young sold 7,500 shares of the business's stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $14.09, for a total value of $105,675.00. Following the sale, the director now directly owns 61,760 shares in the company, valued at $870,198.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company's stock.

Novavax Price Performance

Shares of NVAX stock traded down $0.37 on Wednesday, hitting $12.56. 5,715,744 shares of the stock traded hands, compared to its average volume of 10,489,483. Novavax, Inc. has a 52 week low of $3.53 and a 52 week high of $23.86. The firm has a 50 day simple moving average of $13.01 and a two-hundred day simple moving average of $10.58. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -4.18 and a beta of 2.04.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.82 by ($0.83). The business had revenue of $415.50 million during the quarter, compared to analyst estimates of $458.57 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The firm's revenue for the quarter was down 2.1% on a year-over-year basis. Sell-side analysts forecast that Novavax, Inc. will post -1.04 EPS for the current year.

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.