Eaton Vance Management reduced its position in shares of Novavax Inc. (NASDAQ:NVAX) by 35.2% during the second quarter, Holdings Channel reports. The firm owned 14,700 shares of the biopharmaceutical company’s stock after selling 8,000 shares during the period. Eaton Vance Management’s holdings in Novavax were worth $107,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in NVAX. Wellington Management Group LLP raised its position in shares of Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock valued at $65,593,000 after buying an additional 3,849,585 shares in the last quarter. State Street Corp raised its position in shares of Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock valued at $63,579,000 after buying an additional 3,527,714 shares in the last quarter. Deerfield Management Co. acquired a new position in shares of Novavax during the first quarter valued at about $12,674,000. Franklin Resources Inc. raised its position in shares of Novavax by 71.8% in the first quarter. Franklin Resources Inc. now owns 5,226,565 shares of the biopharmaceutical company’s stock valued at $26,969,000 after buying an additional 2,183,700 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Novavax by 9,162.1% in the first quarter. JPMorgan Chase & Co. now owns 1,316,238 shares of the biopharmaceutical company’s stock valued at $6,792,000 after buying an additional 1,302,027 shares in the last quarter. 79.84% of the stock is owned by institutional investors.
Novavax Inc. (NASDAQ:NVAX) traded down 1.44% during midday trading on Tuesday, reaching $2.05. The company had a trading volume of 3,407,558 shares. The stock’s 50 day moving average is $5.51 and its 200 day moving average is $6.01. Novavax Inc. has a 12-month low of $1.16 and a 12-month high of $9.23. The firm’s market capitalization is $555.21 million.
Novavax (NASDAQ:NVAX) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.04. The business earned $2.50 million during the quarter, compared to the consensus estimate of $8.03 million. Novavax had a negative return on equity of 112.45% and a negative net margin of 1,405.84%. The company’s revenue for the quarter was down 82.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Equities research analysts expect that Novavax Inc. will post ($1.09) earnings per share for the current year.
NVAX has been the subject of several research analyst reports. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $14.00 price objective on shares of Novavax in a research report on Friday, September 9th. Vetr downgraded Novavax from a “strong-buy” rating to a “buy” rating and set a $7.86 price target for the company. in a research report on Monday, August 15th. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Novavax in a research report on Wednesday, July 27th. Zacks Investment Research raised Novavax from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Finally, FBR & Co set a $17.00 price target on Novavax and gave the stock a “buy” rating in a research report on Thursday, August 11th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Novavax presently has a consensus rating of “Hold” and a consensus price target of $7.06.
In other news, Director Gail Boudreaux acquired 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was purchased at an average price of $1.45 per share, for a total transaction of $145,000.00. Following the completion of the acquisition, the director now directly owns 200,000 shares in the company, valued at approximately $290,000. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John Trizzino acquired 46,000 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were purchased at an average price of $2.17 per share, with a total value of $99,820.00. Following the acquisition, the senior vice president now owns 85,564 shares of the company’s stock, valued at $185,673.88. The disclosure for this purchase can be found here. 3.50% of the stock is owned by company insiders.
Novavax, Inc (Novavax) is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company through its recombinant nanoparticle vaccine technology produces vaccine candidates to respond to both known and newly emerging diseases.
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