Novavax, Inc. $NVAX Position Lowered by Shah Capital Management

Shah Capital Management decreased its holdings in Novavax, Inc. (NASDAQ:NVAX) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,173,481 shares of the biopharmaceutical company’s stock after selling 1,992,096 shares during the quarter. Novavax accounts for approximately 21.7% of Shah Capital Management’s holdings, making the stock its 2nd biggest position. Shah Capital Management owned approximately 0.07% of Novavax worth $131,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. KBC Group NV boosted its holdings in shares of Novavax by 34.9% during the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 1,229 shares during the last quarter. Allworth Financial LP lifted its position in Novavax by 292.5% during the second quarter. Allworth Financial LP now owns 4,353 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 3,244 shares during the period. Duncker Streett & Co. Inc. boosted its holdings in Novavax by 917.3% in the first quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 3,825 shares during the last quarter. Abel Hall LLC grew its position in Novavax by 30.7% in the 1st quarter. Abel Hall LLC now owns 18,050 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 4,241 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in Novavax in the 2nd quarter worth approximately $42,000. Institutional investors own 53.04% of the company’s stock.

Novavax Stock Up 13.9%

NASDAQ:NVAX traded up $1.53 during mid-day trading on Friday, hitting $12.54. 10,533,563 shares of the company traded hands, compared to its average volume of 5,036,208. The stock’s fifty day moving average price is $9.48 and its 200-day moving average price is $9.07. Novavax, Inc. has a one year low of $6.20 and a one year high of $13.39. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -8.25 and a beta of 2.44.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.06. The firm had revenue of $56.70 million for the quarter, compared to the consensus estimate of $52.51 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The business’s revenue for the quarter was down 76.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 earnings per share. Equities analysts predict that Novavax, Inc. will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

NVAX has been the topic of several research analyst reports. Zacks Research cut Novavax from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Novavax in a research report on Tuesday, August 4th. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Finally, BTIG Research restated a “buy” rating and set a $19.00 price target on shares of Novavax in a research note on Thursday, June 11th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.00.

Novavax Profile

Novavax, Inc is a biotechnology company focused on the discovery, development and commercialization of vaccines. The company uses its recombinant protein-based vaccine platform and Matrix-M adjuvant technology to develop vaccines designed to stimulate targeted immune responses.

Novavax’s principal commercial product is its protein-based COVID-19 vaccine, marketed in various regions under the Nuvaxovid or Novavax COVID-19 Vaccine name. The vaccine has been authorized or approved in multiple markets, including the United States, Europe and other international jurisdictions, with availability and regulatory status varying by country.