Northern Trust Corp Reduces Position in Novavax, Inc. $NVAX

Northern Trust Corp lessened its holdings in shares of Novavax, Inc. (NASDAQ:NVAX) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,403,433 shares of the biopharmaceutical company’s stock after selling 48,282 shares during the quarter. Northern Trust Corp owned approximately 0.87% of Novavax worth $8,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Sanofi purchased a new position in shares of Novavax during the 4th quarter worth $55,319,000. BNP Paribas Financial Markets lifted its stake in shares of Novavax by 289.0% during the 4th quarter. BNP Paribas Financial Markets now owns 556,832 shares of the biopharmaceutical company’s stock valued at $4,477,000 after buying an additional 413,676 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Novavax by 4.1% during the 1st quarter. Bank of New York Mellon Corp now owns 454,432 shares of the biopharmaceutical company’s stock valued at $2,913,000 after buying an additional 17,981 shares in the last quarter. Nuveen LLC purchased a new position in shares of Novavax during the 1st quarter valued at $2,517,000. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Novavax during the 1st quarter valued at $1,907,000. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Novavax Stock Performance

Shares of NASDAQ NVAX opened at $7.90 on Friday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.34 and a current ratio of 2.36. The company has a market cap of $1.28 billion, a P/E ratio of 3.46, a P/E/G ratio of 0.10 and a beta of 2.68. The firm’s fifty day moving average is $7.52 and its two-hundred day moving average is $7.15. Novavax, Inc. has a 52-week low of $5.01 and a 52-week high of $15.22.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.69. The company had revenue of $239.24 million for the quarter, compared to the consensus estimate of $149.19 million. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. Novavax’s revenue for the quarter was down 42.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 EPS. As a group, analysts anticipate that Novavax, Inc. will post -1.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NVAX shares. Bank of America restated an “underperform” rating and set a $7.00 target price (down previously from $9.00) on shares of Novavax in a research note on Wednesday, August 20th. Citigroup started coverage on shares of Novavax in a research note on Tuesday, June 17th. They set a “sell” rating and a $6.00 target price on the stock. HC Wainwright started coverage on shares of Novavax in a research note on Thursday, August 28th. They set a “buy” rating and a $10.00 target price on the stock. B. Riley restated a “buy” rating on shares of Novavax in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Novavax from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, May 9th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.29.

Novavax 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.