Novavax, Inc. (NASDAQ:NVAX) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its stake in shares of Novavax, Inc. (NASDAQ:NVAXGet Rating) by 42.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 179,800 shares of the biopharmaceutical company’s stock after selling 131,300 shares during the period. Swiss National Bank owned about 0.23% of Novavax worth $9,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVAX. Coatue Management LLC acquired a new stake in shares of Novavax during the 1st quarter valued at approximately $65,066,000. State Street Corp raised its position in shares of Novavax by 31.4% during the 1st quarter. State Street Corp now owns 2,495,542 shares of the biopharmaceutical company’s stock worth $183,797,000 after purchasing an additional 596,322 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Novavax by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 488,744 shares of the biopharmaceutical company’s stock worth $35,996,000 after purchasing an additional 284,344 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Novavax during the 1st quarter worth approximately $9,839,000. Finally, International Biotechnology Trust PLC acquired a new position in shares of Novavax during the 1st quarter worth approximately $18,549,000. 42.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com upgraded Novavax from a “sell” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. downgraded Novavax from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $132.00 to $27.00 in a research report on Thursday, September 22nd. B. Riley cut their price target on Novavax from $83.00 to $74.00 in a report on Thursday, November 10th. Cowen cut their price target on Novavax to $55.00 in a report on Thursday, October 13th. Finally, Cowen cut their price target on Novavax from $150.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Novavax has an average rating of “Hold” and an average target price of $109.25.

Novavax Stock Down 3.6 %

Shares of NASDAQ NVAX opened at $18.95 on Tuesday. Novavax, Inc. has a 52-week low of $16.00 and a 52-week high of $236.50. The firm has a fifty day moving average of $21.54 and a 200-day moving average of $38.97. The stock has a market capitalization of $1.49 billion, a PE ratio of -1.10 and a beta of 1.90.

Novavax (NASDAQ:NVAXGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The biopharmaceutical company reported ($2.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($4.36). Novavax had a negative net margin of 71.59% and a negative return on equity of 572.54%. The company had revenue of $734.58 million for the quarter, compared to analysts’ expectations of $555.50 million. During the same period in the prior year, the firm earned ($4.31) earnings per share. The firm’s quarterly revenue was up 310.7% on a year-over-year basis. Equities research analysts expect that Novavax, Inc. will post -5.19 EPS for the current fiscal year.

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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