Chicago Equity Partners LLC reduced its holdings in shares of Novavax (NASDAQ:NVAX) by 9.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 829,769 shares of the biopharmaceutical company’s stock after selling 91,131 shares during the quarter. Chicago Equity Partners LLC owned approximately 0.22% of Novavax worth $1,743,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas boosted its stake in shares of Novavax by 349.8% during the 4th quarter. Teacher Retirement System of Texas now owns 99,952 shares of the biopharmaceutical company’s stock worth $124,000 after acquiring an additional 77,733 shares during the period. Aperio Group LLC boosted its stake in shares of Novavax by 121.1% during the 4th quarter. Aperio Group LLC now owns 115,323 shares of the biopharmaceutical company’s stock worth $143,000 after acquiring an additional 63,155 shares during the period. MetLife Investment Advisors LLC bought a new position in shares of Novavax during the 4th quarter worth approximately $172,000. Fisher Asset Management LLC bought a new position in shares of Novavax during the 4th quarter worth approximately $179,000. Finally, Two Sigma Investments LP bought a new position in shares of Novavax during the 4th quarter worth approximately $215,000. Institutional investors own 33.41% of the company’s stock.
Several brokerages have recently commented on NVAX. Citigroup upgraded Novavax from a “neutral” rating to a “buy” rating in a research note on Thursday, March 1st. JPMorgan Chase downgraded Novavax from a “neutral” rating to an “underweight” rating in a research note on Monday, March 19th. Zacks Investment Research upgraded Novavax from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Tuesday, April 3rd. Seaport Global Securities upgraded Novavax from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Thursday, March 29th. Finally, BidaskClub cut Novavax from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $3.37.
Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). The company had revenue of $9.70 million during the quarter, compared to analyst estimates of $9.33 million. The company’s revenue was up 70.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) earnings per share. equities research analysts forecast that Novavax will post -0.56 earnings per share for the current year.
In other news, SVP John Trizzino purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was acquired at an average cost of $1.64 per share, with a total value of $82,000.00. Following the acquisition, the senior vice president now owns 138,965 shares in the company, valued at approximately $227,902.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stanley C. Erck purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were purchased at an average cost of $1.65 per share, with a total value of $165,000.00. Following the completion of the acquisition, the insider now owns 328,279 shares in the company, valued at approximately $541,660.35. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.
Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.
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