Lazard Asset Management LLC Reduces Holdings in Novavax, Inc. (NASDAQ:NVAX)

Lazard Asset Management LLC lessened its holdings in shares of Novavax, Inc. (NASDAQ:NVAX) by 43.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,934 shares of the biopharmaceutical company’s stock after selling 3,718 shares during the quarter. Lazard Asset Management LLC’s holdings in Novavax were worth $39,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. E Fund Management Co. Ltd. lifted its position in shares of Novavax by 5.1% during the fourth quarter. E Fund Management Co. Ltd. now owns 25,340 shares of the biopharmaceutical company’s stock worth $204,000 after purchasing an additional 1,219 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Novavax by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company’s stock worth $3,509,000 after buying an additional 1,664 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Novavax by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 50,506 shares of the biopharmaceutical company’s stock worth $406,000 after acquiring an additional 2,124 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of Novavax by 16.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 16,126 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 2,287 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Novavax by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,965 shares of the biopharmaceutical company’s stock valued at $273,000 after acquiring an additional 3,174 shares in the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. TD Cowen upgraded shares of Novavax to a “hold” rating in a research note on Thursday, February 27th. BTIG Research started coverage on shares of Novavax in a report on Friday, February 28th. They set a “buy” rating and a $19.00 price target for the company. JPMorgan Chase & Co. decreased their target price on shares of Novavax from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Friday, May 9th. Finally, B. Riley reiterated a “buy” rating on shares of Novavax in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.00.

Novavax Price Performance

NASDAQ NVAX opened at $7.25 on Tuesday. Novavax, Inc. has a 12 month low of $5.01 and a 12 month high of $23.86. The firm has a market capitalization of $1.17 billion, a PE ratio of -3.21, a P/E/G ratio of 2.85 and a beta of 3.21. The company’s 50 day simple moving average is $6.60 and its 200 day simple moving average is $7.81.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $2.22. The firm had revenue of $666.66 million for the quarter, compared to analyst estimates of $204.08 million. The firm’s revenue for the quarter was up 610.3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.05) earnings per share. Sell-side analysts anticipate that Novavax, Inc. will post -1.46 earnings per share for the current fiscal 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.