California Public Employees Retirement System reduced its stake in shares of Novavax, Inc. (NASDAQ:NVAX – Get Rating) by 9.5% in the second quarter, Holdings Channel reports. The firm owned 138,435 shares of the biopharmaceutical company’s stock after selling 14,563 shares during the period. California Public Employees Retirement System’s holdings in Novavax were worth $7,120,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Mascoma Wealth Management LLC purchased a new stake in shares of Novavax during the second quarter valued at $27,000. San Luis Wealth Advisors LLC purchased a new stake in Novavax in the first quarter worth about $29,000. Exchange Traded Concepts LLC purchased a new stake in Novavax in the second quarter worth about $47,000. Zullo Investment Group Inc. lifted its stake in Novavax by 1,400.0% in the first quarter. Zullo Investment Group Inc. now owns 750 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 700 shares during the period. Finally, Pinebridge Investments L.P. purchased a new stake in Novavax in the first quarter worth about $91,000. 42.63% of the stock is owned by hedge funds and other institutional investors.
Novavax Stock Up 0.7 %
NVAX opened at $17.03 on Thursday. Novavax, Inc. has a 52-week low of $16.00 and a 52-week high of $236.50. The company has a market cap of $1.34 billion, a P/E ratio of -0.98 and a beta of 1.90. The firm’s 50-day moving average price is $20.95 and its 200-day moving average price is $38.53.
Analysts Set New Price Targets
A number of analysts recently weighed in on NVAX shares. Cowen lowered their price objective on shares of Novavax to $55.00 in a research note on Thursday, October 13th. B. Riley decreased their price target on shares of Novavax from $83.00 to $74.00 in a research report on Thursday, November 10th. 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 report on Thursday, September 22nd. StockNews.com raised shares of Novavax from a “sell” rating to a “hold” rating in a research report on Saturday, November 19th. Finally, Cowen decreased their price target 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. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $109.25.
Novavax Company Profile
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.
- Get a free copy of the StockNews.com research report on Novavax (NVAX)
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