Profund Advisors LLC Grows Position in Novavax, Inc. (NASDAQ:NVAX)

Profund Advisors LLC raised its holdings in Novavax, Inc. (NASDAQ:NVAX) by 5.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 199,183 shares of the biopharmaceutical company’s stock after acquiring an additional 9,542 shares during the quarter. Profund Advisors LLC’s holdings in Novavax were worth $1,480,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NVAX. ING Groep NV purchased a new stake in shares of Novavax in the 1st quarter valued at about $26,000. US Bancorp DE raised its holdings in shares of Novavax by 126.1% in the 1st quarter. US Bancorp DE now owns 4,940 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 2,755 shares in the last quarter. Money Concepts Capital Corp purchased a new stake in shares of Novavax in the 4th quarter valued at about $37,000. Nisa Investment Advisors LLC raised its holdings in shares of Novavax by 205.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 3,900 shares in the last quarter. Finally, Amundi raised its holdings in shares of Novavax by 133.3% during the 4th quarter. Amundi now owns 5,888 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 3,364 shares in the last quarter. Hedge funds and other institutional investors own 71.46% of the company’s stock.

Novavax Price Performance

Shares of Novavax stock opened at $5.70 on Tuesday. The business’s 50 day simple moving average is $6.88 and its two-hundred day simple moving average is $7.57. The stock has a market capitalization of $677.10 million, a P/E ratio of -0.89 and a beta of 1.73. Novavax, Inc. has a one year low of $5.56 and a one year high of $19.51.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping analysts’ consensus estimates of ($1.82) by $0.56. The company had revenue of $187.00 million during the quarter, compared to analysts’ expectations of $171.04 million. Novavax’s revenue for the quarter was down 74.5% on a year-over-year basis. During the same period last year, the firm earned ($2.15) earnings per share. Sell-side analysts expect that Novavax, Inc. will post -3.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NVAX. HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of Novavax in a report on Thursday, August 10th. B. Riley raised Novavax from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, August 9th. Finally, StockNews.com cut Novavax from a “hold” rating to a “sell” rating in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Novavax Company Profile

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.