BNP Paribas Arbitrage SA cut its position in Novavax Inc. (NASDAQ:NVAX) by 14.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,074 shares of the biopharmaceutical company’s stock after selling 17,205 shares during the period. BNP Paribas Arbitrage SA’s holdings in Novavax were worth $204,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Coldstream Capital Management Inc. increased its position in shares of Novavax by 17.5% in the second quarter. Coldstream Capital Management Inc. now owns 13,805 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 2,055 shares during the period. Compagnie Lombard Odier SCmA bought a new position in shares of Novavax during the second quarter worth $102,000. Veritable L.P. bought a new position in shares of Novavax during the second quarter worth $102,000. Moors & Cabot Inc. bought a new position in shares of Novavax during the second quarter worth $119,000. Finally, BlackRock Inc. increased its position in shares of Novavax by 138.7% in the first quarter. BlackRock Inc. now owns 19,870 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 11,547 shares during the period. 79.84% of the stock is currently owned by institutional investors.
Shares of Novavax Inc. (NASDAQ:NVAX) opened at 2.01 on Thursday. The stock’s market capitalization is $544.38 million. The stock has a 50 day moving average of $5.20 and a 200-day moving average of $5.95. Novavax Inc. has a one year low of $1.16 and a one year high of $9.23.
Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.04. Novavax had a negative return on equity of 112.45% and a negative net margin of 1,405.84%. The business earned $2.50 million during the quarter, compared to the consensus estimate of $8.03 million. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Novavax’s quarterly revenue was down 82.1% compared to the same quarter last year. Equities analysts forecast that Novavax Inc. will post ($1.09) earnings per share for the current year.
Several equities research analysts have commented on NVAX shares. Zacks Investment Research raised shares of Novavax from a “sell” rating to a “hold” rating in a report on Friday, June 10th. Chardan Capital dropped their price objective on shares of Novavax from $5.75 to $1.50 and set a “neutral” rating on the stock in a report on Tuesday, September 20th. Vetr raised shares of Novavax from a “buy” rating to a “strong-buy” rating and set a $8.35 price objective on the stock in a report on Wednesday, July 13th. Piper Jaffray Cos. downgraded shares of Novavax from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $1.00 in a report on Friday, September 16th. Finally, Wedbush downgraded shares of Novavax from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $2.00 in a report on Friday, September 16th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Novavax has an average rating of “Hold” and an average price target of $7.06.
In other Novavax news, Director Michael A. Mcmanus, Jr. acquired 30,000 shares of Novavax stock in a transaction that occurred on Wednesday, September 21st. The stock was bought at an average cost of $1.61 per share, for a total transaction of $48,300.00. Following the acquisition, the director now owns 247,590 shares of the company’s stock, valued at $398,619.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gail Boudreaux acquired 100,000 shares of Novavax stock in a transaction that occurred on Tuesday, September 20th. The stock was acquired at an average price of $1.45 per share, with a total value 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 disclosure for this purchase can be found here. 3.50% of the stock is owned by corporate insiders.
Novavax Company Profile
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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