Pictet Asset Management SA decreased its position in Novavax, Inc. (NASDAQ:NVAX – Get Rating) by 89.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,012 shares of the biopharmaceutical company’s stock after selling 536,943 shares during the period. Pictet Asset Management SA owned approximately 0.08% of Novavax worth $3,241,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE lifted its position in Novavax by 9.0% in the 2nd quarter. US Bancorp DE now owns 2,270 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 187 shares in the last quarter. San Luis Wealth Advisors LLC bought a new stake in Novavax in the 1st quarter valued at $29,000. Cetera Advisors LLC lifted its position in Novavax by 3.4% in the 1st quarter. Cetera Advisors LLC now owns 7,632 shares of the biopharmaceutical company’s stock valued at $562,000 after acquiring an additional 254 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Novavax by 14.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,070 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 261 shares in the last quarter. Finally, Toroso Investments LLC lifted its position in Novavax by 15.3% in the 1st quarter. Toroso Investments LLC now owns 3,297 shares of the biopharmaceutical company’s stock valued at $243,000 after acquiring an additional 437 shares in the last quarter. Institutional investors and hedge funds own 42.63% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have commented on NVAX shares. StockNews.com raised shares of Novavax from a “sell” rating to a “hold” rating in a research report on Saturday. Cowen cut their price target on shares of Novavax from $150.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 9th. Cowen cut their price target on shares of Novavax to $55.00 in a research report on Thursday, October 13th. JPMorgan Chase & Co. cut shares of Novavax from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $132.00 to $27.00 in a research report on Thursday, September 22nd. Finally, B. Riley cut their price target on shares of Novavax from $83.00 to $74.00 in a research report on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Novavax currently has a consensus rating of “Hold” and a consensus target price of $109.25.
Novavax Stock Performance
Novavax (NASDAQ:NVAX – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($2.15) EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($4.36). Novavax had a negative net margin of 71.59% and a negative return on equity of 572.54%. The company had revenue of $734.58 million during the quarter, compared to analyst estimates of $555.50 million. During the same quarter last year, the company posted ($4.31) EPS. The firm’s quarterly revenue was up 310.7% on a year-over-year basis. Sell-side analysts predict that Novavax, Inc. will post -5.19 EPS for the current fiscal year.
Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.
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