Arizona State Retirement System Has $1.47 Million Stake in Novavax, Inc. (NASDAQ:NVAX)

Posted by on Aug 2nd, 2022

Arizona State Retirement System lifted its holdings in shares of Novavax, Inc. (NASDAQ:NVAX – Get Rating) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,994 shares of the biopharmaceutical company’s stock after buying an additional 728 shares during the quarter. Arizona State Retirement System’s holdings in Novavax were worth $1,473,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NVAX. National Bank of Canada FI acquired a new stake in shares of Novavax during the 4th quarter worth approximately $206,000. Janney Montgomery Scott LLC grew its position in shares of Novavax by 2.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,414 shares of the biopharmaceutical company’s stock worth $1,061,000 after buying an additional 206 shares during the period. State of Michigan Retirement System acquired a new position in Novavax during the fourth quarter valued at approximately $200,000. Allspring Global Investments Holdings LLC acquired a new position in Novavax during the fourth quarter valued at approximately $1,320,000. Finally, Commonwealth Equity Services LLC grew its holdings in Novavax by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,764 shares of the biopharmaceutical company’s stock valued at $1,826,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds own 43.91% of the company’s stock.

Novavax Stock Performance

Shares of NVAX opened at $53.92 on Tuesday. Novavax, Inc. has a twelve month low of $34.88 and a twelve month high of $277.80. The firm’s 50 day moving average price is $52.84 and its two-hundred day moving average price is $64.90. The firm has a market cap of $4.21 billion, a P/E ratio of -3.05, a PEG ratio of 0.05 and a beta of 1.52.

Novavax (NASDAQ:NVAX – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported $2.56 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.77). The business had revenue of $703.97 million during the quarter, compared to the consensus estimate of $845.20 million. Novavax had a negative return on equity of 572.54% and a negative net margin of 93.91%. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($3.05) EPS. On average, sell-side analysts anticipate that Novavax, Inc. will post 27.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NVAX shares. B. Riley decreased their price objective on shares of Novavax from $181.00 to $171.00 in a report on Friday, July 22nd. Cowen restated a “buy” rating and set a $150.00 price objective on shares of Novavax in a report on Friday, June 3rd. Cantor Fitzgerald boosted their price objective on shares of Novavax from $146.00 to $168.00 in a report on Wednesday, June 8th. Finally, Bank of America started coverage on shares of Novavax in a report on Friday, May 20th. They set an “underperform” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $162.57.

Novavax Profile

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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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Institutional Ownership by Quarter for Novavax (NASDAQ:NVAX)

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