Allspring Global Investments Holdings LLC Purchases Shares of 27,993 Novavax, Inc. $NVAX

Allspring Global Investments Holdings LLC bought a new position in shares of Novavax, Inc. (NASDAQ:NVAX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 27,993 shares of the biopharmaceutical company’s stock, valued at approximately $185,000.

A number of other institutional investors also recently modified their holdings of NVAX. Park West Asset Management LLC purchased a new stake in Novavax in the 1st quarter worth approximately $16,210,000. Jump Financial LLC bought a new stake in Novavax during the 1st quarter valued at about $3,280,000. Nuveen LLC purchased a new position in shares of Novavax in the first quarter worth approximately $2,517,000. Shah Capital Management lifted its holdings in Novavax by 3.4% during the second quarter. Shah Capital Management now owns 11,511,780 shares of the biopharmaceutical company’s stock valued at $72,524,000 after purchasing an additional 379,934 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Novavax in the first quarter worth $1,907,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVAX. HC Wainwright boosted their price objective on shares of Novavax from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Novavax in a report on Saturday. Bank of America reiterated an “underperform” rating and set a $7.00 target price (down previously from $9.00) on shares of Novavax in a research report on Wednesday, August 20th. Finally, Cantor Fitzgerald assumed coverage on Novavax in a report on Friday. They set an “overweight” rating and a $18.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.33.

Novavax Trading Up 1.9%

Shares of NVAX stock opened at $8.52 on Monday. The company has a debt-to-equity ratio of 5.93, a current ratio of 2.36 and a quick ratio of 2.34. The firm has a market capitalization of $1.38 billion, a PE ratio of 3.74, a P/E/G ratio of 0.13 and a beta of 2.74. Novavax, Inc. has a 1-year low of $5.01 and a 1-year high of $11.55. The business’s fifty day moving average price is $8.40 and its 200 day moving average price is $7.44.

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

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.