Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 14,074 Shares of Novavax, Inc. (NASDAQ:NVAX)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its holdings in shares of Novavax, Inc. (NASDAQ:NVAXGet Rating) by 77.7% during the second quarter, HoldingsChannel reports. The fund owned 4,036 shares of the biopharmaceutical company’s stock after selling 14,074 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Novavax were worth $208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. US Bancorp DE lifted its holdings in shares of Novavax by 9.0% during the second quarter. US Bancorp DE now owns 2,270 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 187 shares during the period. San Luis Wealth Advisors LLC bought a new position in Novavax during the 1st quarter worth approximately $29,000. Cetera Advisors LLC lifted its position in shares of Novavax by 3.4% in the 1st quarter. Cetera Advisors LLC now owns 7,632 shares of the biopharmaceutical company’s stock worth $562,000 after purchasing an additional 254 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Novavax by 14.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,070 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 261 shares during the last quarter. Finally, Toroso Investments LLC raised its stake in Novavax by 15.3% during the first quarter. Toroso Investments LLC now owns 3,297 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 437 shares during the last quarter. 42.63% of the stock is currently owned by institutional investors and hedge funds.

Novavax Trading Down 3.8 %

Shares of NVAX opened at $19.40 on Monday. The stock has a 50 day moving average of $23.93 and a 200 day moving average of $41.30. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -1.00, a PEG ratio of 4.25 and a beta of 1.90. Novavax, Inc. has a 12 month low of $16.00 and a 12 month high of $236.50.

Novavax (NASDAQ:NVAXGet Rating) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($6.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($12.04). The business had revenue of $186.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Novavax had a negative net margin of 114.32% and a negative return on equity of 572.54%. The company’s revenue for the quarter was down 37.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($4.75) earnings per share. As a group, equities research analysts predict that Novavax, Inc. will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NVAX shares. B. Riley decreased their price target on Novavax from $126.00 to $83.00 and set a “buy” rating for the company in a report on Friday, October 14th. JPMorgan Chase & Co. lowered shares of Novavax from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $132.00 to $27.00 in a research note on Thursday, September 22nd. Cowen dropped their price objective on shares of Novavax to $55.00 in a research note on Thursday, October 13th. Cowen decreased their target price on shares of Novavax from $150.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, August 9th. Finally, StockNews.com initiated coverage on shares of Novavax in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $110.38.

Novavax Company 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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