Farallon Capital Management LLC Purchases 764,000 Shares of Novavax, Inc. $NVAX

Farallon Capital Management LLC boosted its position in Novavax, Inc. (NASDAQ:NVAX) by 4,775.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 780,000 shares of the biopharmaceutical company’s stock after acquiring an additional 764,000 shares during the period. Farallon Capital Management LLC’s holdings in Novavax were worth $6,763,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its stake in shares of Novavax by 162.6% in the third quarter. Allianz Asset Management GmbH now owns 1,409,734 shares of the biopharmaceutical company’s stock worth $12,222,000 after purchasing an additional 872,987 shares in the last quarter. TSP Capital Management Group LLC lifted its stake in shares of Novavax by 3.5% during the 2nd quarter. TSP Capital Management Group LLC now owns 1,399,065 shares of the biopharmaceutical company’s stock valued at $8,814,000 after buying an additional 46,900 shares in the last quarter. Monaco Asset Management SAM lifted its stake in shares of Novavax by 73.9% during the 3rd quarter. Monaco Asset Management SAM now owns 400,000 shares of the biopharmaceutical company’s stock valued at $3,468,000 after buying an additional 170,000 shares in the last quarter. Virtus Investment Advisers LLC boosted its holdings in Novavax by 56.1% in the 2nd quarter. Virtus Investment Advisers LLC now owns 62,153 shares of the biopharmaceutical company’s stock worth $392,000 after buying an additional 22,348 shares during the period. Finally, Vise Technologies Inc. purchased a new position in Novavax in the 2nd quarter valued at approximately $70,000. Institutional investors own 53.04% of the company’s stock.

Wall Street Analyst Weigh In

NVAX has been the topic of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Novavax in a report on Thursday. BTIG Research reaffirmed a “buy” rating and issued a $19.00 price target on shares of Novavax in a report on Tuesday, January 20th. JPMorgan Chase & Co. reduced their price target on Novavax from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Tuesday, November 18th. Wall Street Zen upgraded Novavax from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings raised Novavax from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.88.

Novavax Price Performance

Shares of NASDAQ NVAX opened at $10.23 on Monday. The firm has a market capitalization of $1.67 billion, a P/E ratio of 4.24 and a beta of 2.54. The company has a quick ratio of 2.10, a current ratio of 2.13 and a debt-to-equity ratio of 5.93. The stock’s 50-day simple moving average is $9.01 and its two-hundred day simple moving average is $8.14. Novavax, Inc. has a twelve month low of $5.01 and a twelve month high of $11.97.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.77. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.The firm had revenue of $136.40 million during the quarter, compared to the consensus estimate of $90.26 million. During the same quarter last year, the company posted ($0.51) EPS. The company’s revenue for the quarter was up 66.6% on a year-over-year basis. As a group, equities analysts anticipate that Novavax, Inc. will post -1.46 EPS for the current fiscal year.

Novavax Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.