Teacher Retirement System of Texas Cuts Stock Holdings in Novavax, Inc. (NASDAQ:NVAX)

Teacher Retirement System of Texas cut its holdings in Novavax, Inc. (NASDAQ:NVAX) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,802 shares of the biopharmaceutical company’s stock after selling 3,971 shares during the quarter. Teacher Retirement System of Texas’ holdings in Novavax were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVAX. Sanofi purchased a new position in shares of Novavax in the fourth quarter worth approximately $55,319,000. Deep Track Capital LP bought a new stake in Novavax during the 4th quarter worth approximately $16,080,000. BNP Paribas Financial Markets lifted its holdings in Novavax by 289.0% during the fourth quarter. BNP Paribas Financial Markets now owns 556,832 shares of the biopharmaceutical company’s stock valued at $4,477,000 after purchasing an additional 413,676 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Novavax in the fourth quarter worth approximately $2,761,000. Finally, ExodusPoint Capital Management LP bought a new position in shares of Novavax in the fourth quarter worth approximately $2,687,000. Institutional investors own 53.04% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on NVAX shares. Citigroup began coverage on Novavax in a research note on Tuesday, June 17th. They issued a “sell” rating and a $6.00 price target for the company. B. Riley restated a “buy” rating on shares of Novavax in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. reduced their target price on Novavax from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.00.

Novavax Price Performance

Shares of Novavax stock opened at $7.00 on Friday. The company has a market cap of $1.13 billion, a P/E ratio of 2.64, a PEG ratio of 0.06 and a beta of 2.69. The firm’s 50 day moving average price is $6.88 and its 200-day moving average price is $7.37. Novavax, Inc. has a 52-week low of $5.01 and a 52-week high of $17.81.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $2.22. The company had revenue of $666.66 million during the quarter, compared to analyst estimates of $204.08 million. Novavax had a net margin of 38.14% and a negative return on equity of 115.51%. Novavax’s revenue for the quarter was up 610.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.05) EPS. As a group, equities research analysts forecast that Novavax, Inc. will post -1.46 EPS for the current fiscal year.

Novavax Company Profile

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.