Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Novavax, Inc. (NASDAQ:NVAX) by 89.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,528 shares of the biopharmaceutical company’s stock after purchasing an additional 31,931 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of Novavax worth $14,337,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bridgefront Capital LLC acquired a new position in Novavax in the second quarter valued at $300,000. Sittner & Nelson LLC boosted its stake in Novavax by 44.4% in the second quarter. Sittner & Nelson LLC now owns 650 shares of the biopharmaceutical company’s stock valued at $138,000 after acquiring an additional 200 shares in the last quarter. Forsta AP Fonden acquired a new position in Novavax in the second quarter valued at $3,354,000. Korea Investment CORP acquired a new position in Novavax in the second quarter valued at $2,845,000. Finally, Commonwealth Equity Services LLC boosted its stake in Novavax by 2.2% in the second quarter. Commonwealth Equity Services LLC now owns 9,847 shares of the biopharmaceutical company’s stock valued at $2,090,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 52.46% of the company’s stock.
In other Novavax news, CEO Stanley C. Erck sold 52,559 shares of the stock in a transaction dated Friday, July 2nd. The shares were sold at an average price of $215.89, for a total value of $11,346,962.51. Following the completion of the transaction, the chief executive officer now directly owns 35,676 shares of the company’s stock, valued at $7,702,091.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David M. Mott sold 24,961 shares of the stock in a transaction dated Thursday, September 23rd. The shares were sold at an average price of $252.90, for a total transaction of $6,312,636.90. The disclosure for this sale can be found here. Insiders have sold 117,080 shares of company stock valued at $26,501,061 over the last three months. 2.10% of the stock is currently owned by corporate insiders.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Thursday, August 5th. The biopharmaceutical company reported ($4.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.63) by ($1.12). The firm had revenue of $298.02 million for the quarter, compared to analysts’ expectations of $370.80 million. Novavax had a negative return on equity of 150.88% and a negative net margin of 80.37%. During the same period in the prior year, the company earned ($0.30) earnings per share. Equities research analysts forecast that Novavax, Inc. will post -8.37 EPS for the current year.
Several equities analysts have issued reports on NVAX shares. Zacks Investment Research upgraded shares of Novavax from a “sell” rating to a “hold” rating and set a $246.00 price objective for the company in a research note on Thursday, August 12th. Chardan Capital reiterated a “neutral” rating on shares of Novavax in a research note on Wednesday, September 1st. Finally, Cantor Fitzgerald increased their target price on shares of Novavax from $217.00 to $272.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Novavax presently has a consensus rating of “Buy” and an average price target of $249.00.
Novavax Company Profile
Novavax, Inc focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It provides vaccines for COVID-19, seasonal flu, respiratory syncytial virus, Ebola, and Middle East respiratory syndrome. The company was founded in 1987 and is headquartered in Gaithersburg, MD.
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