Novavax, Inc. (NASDAQ:NVAX) Shares Sold by Trexquant Investment LP

Trexquant Investment LP cut its position in Novavax, Inc. (NASDAQ:NVAX - Free Report) by 77.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,085 shares of the biopharmaceutical company's stock after selling 516,572 shares during the quarter. Trexquant Investment LP owned approximately 0.09% of Novavax worth $1,207,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NVAX. State Street Corp lifted its position in Novavax by 26.7% during the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company's stock valued at $97,099,000 after acquiring an additional 1,621,772 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Novavax by 300.4% during the third quarter. Franklin Resources Inc. now owns 97,162 shares of the biopharmaceutical company's stock worth $1,226,000 after purchasing an additional 72,894 shares in the last quarter. Shah Capital Management lifted its holdings in shares of Novavax by 13.6% during the 4th quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company's stock valued at $89,637,000 after purchasing an additional 1,333,305 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Novavax during the 3rd quarter valued at $923,000. Finally, Arizona State Retirement System boosted its position in shares of Novavax by 14.9% in the 4th quarter. Arizona State Retirement System now owns 41,793 shares of the biopharmaceutical company's stock worth $336,000 after purchasing an additional 5,407 shares in the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

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Novavax Stock Performance

NASDAQ NVAX traded up $0.55 during trading hours on Monday, reaching $6.41. The stock had a trading volume of 6,107,587 shares, compared to its average volume of 8,217,337. Novavax, Inc. has a 52-week low of $3.81 and a 52-week high of $23.86. The stock has a fifty day moving average of $7.48 and a 200 day moving average of $8.80. The stock has a market cap of $1.03 billion, a P/E ratio of -2.84, a price-to-earnings-growth ratio of 2.85 and a beta of 3.15.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.75) by $0.24. The business had revenue of $88.31 million for the quarter, compared to analyst estimates of $85.48 million. During the same quarter in the prior year, the firm earned ($1.44) earnings per share. On average, equities research analysts forecast that Novavax, Inc. will post -1.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on NVAX. BTIG Research assumed 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. TD Cowen upgraded shares of Novavax to a "hold" rating in a research note on Thursday, February 27th. One investment 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $18.00.

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.