Connor Clark & Lunn Investment Management Ltd. Sells 97,515 Shares of Novavax, Inc. (NASDAQ:NVAX)

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Novavax, Inc. (NASDAQ:NVAX) by 68.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 44,260 shares of the biopharmaceutical company’s stock after selling 97,515 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Novavax were worth $559,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NVAX. Amalgamated Bank increased its position in shares of Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,036 shares during the period. Ensign Peak Advisors Inc grew its holdings in Novavax by 3.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock worth $568,000 after acquiring an additional 1,300 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Novavax by 38.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,598 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Novavax by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 2,072 shares during the period. Finally, Banque Cantonale Vaudoise boosted its position in shares of Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors own 53.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. Jefferies Financial Group dropped their target price on shares of Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Novavax in a report on Tuesday, November 12th. Finally, B. Riley reaffirmed a “buy” rating and issued a $26.00 price target (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.83.

Novavax Trading Up 1.2 %

NASDAQ NVAX opened at $8.72 on Friday. The company has a market cap of $1.40 billion, a P/E ratio of -3.86 and a beta of 2.10. The company has a fifty day simple moving average of $10.40 and a 200 day simple moving average of $12.57. Novavax, Inc. has a 12-month low of $3.53 and a 12-month high of $23.86.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. The business had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. During the same quarter in the prior year, the business earned ($1.26) earnings per share. The firm’s quarterly revenue was down 54.8% compared to the same quarter last year. Sell-side analysts predict that Novavax, Inc. will post -1.4 EPS for the current year.

About Novavax

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.