Profund Advisors LLC Has $818,000 Stake in Novavax, Inc. $NVAX

Profund Advisors LLC grew its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 117.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 121,693 shares of the biopharmaceutical company’s stock after acquiring an additional 65,631 shares during the quarter. Profund Advisors LLC’s holdings in Novavax were worth $818,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVAX. Flagship Harbor Advisors LLC acquired a new stake in shares of Novavax in the 4th quarter valued at approximately $33,000. Quarry LP bought a new stake in Novavax in the third quarter valued at approximately $33,000. State of Wyoming acquired a new stake in Novavax in the second quarter worth $52,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Novavax by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,896 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,617 shares during the period. Finally, Danske Bank A S bought a new position in shares of Novavax during the third quarter worth $64,000. Institutional investors own 53.04% of the company’s stock.

Novavax Stock Down 3.1%

Novavax stock opened at $8.98 on Friday. The company has a 50 day moving average of $8.88 and a 200-day moving average of $8.26. Novavax, Inc. has a twelve month low of $6.13 and a twelve month high of $11.97. The stock has a market capitalization of $1.48 billion, a PE ratio of -15.48 and a beta of 2.37.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.19. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The business had revenue of $118.90 million for the quarter, compared to analyst estimates of $79.81 million. During the same period last year, the business posted $2.93 earnings per share. The firm’s quarterly revenue was down 79.0% on a year-over-year basis. Equities analysts anticipate that Novavax, Inc. will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. HC Wainwright lifted their price target on shares of Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. B. Riley Financial reiterated a “buy” rating on shares of Novavax in a report on Thursday, April 9th. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. TD Cowen increased their price target on Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Novavax in a research report on Thursday, March 12th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Novavax has a consensus rating of “Hold” and an average price target of $12.13.

Novavax Company 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.