Farallon Capital Management LLC Sells 753,750 Shares of Novavax, Inc. (NASDAQ:NVAX)

Farallon Capital Management LLC trimmed its holdings in Novavax, Inc. (NASDAQ:NVAX - Free Report) by 66.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 377,250 shares of the biopharmaceutical company's stock after selling 753,750 shares during the quarter. Farallon Capital Management LLC owned approximately 0.27% of Novavax worth $4,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Shah Capital Management lifted its holdings in shares of Novavax by 19.0% in the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company's stock worth $122,322,000 after buying an additional 1,544,263 shares in the last quarter. Coatue Management LLC bought a new position in shares of Novavax during the 4th quarter valued at about $7,294,000. Renaissance Technologies LLC bought a new position in Novavax during the second quarter valued at approximately $14,055,000. Rafferty Asset Management LLC grew its holdings in shares of Novavax by 62.4% in the fourth quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company's stock valued at $7,737,000 after purchasing an additional 619,370 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Novavax during the first quarter valued at $1,499,000. 53.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. B. Riley restated a "buy" rating and issued a $23.00 target price (down from $25.00) on shares of Novavax in a report on Monday, August 12th. Bank of America raised their price objective on Novavax from $12.00 to $18.00 and gave the company a "neutral" rating in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. lifted their target price on Novavax from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Monday, August 12th. One 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. According to MarketBeat, Novavax has an average rating of "Hold" and an average price target of $15.80.

Novavax Stock Up 3.8 %

NVAX traded up $0.49 on Tuesday, reaching $13.29. 6,554,770 shares of the company traded hands, compared to its average volume of 10,394,441. The company has a market cap of $1.87 billion, a P/E ratio of -4.19 and a beta of 2.04. The firm has a fifty day simple moving average of $12.96 and a two-hundred day simple moving average of $10.78. Novavax, Inc. has a one year low of $3.53 and a one year high of $23.86.

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

About Novavax

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.