AlphaQuest LLC Cuts Stock Position in Novavax, Inc. $NVAX

AlphaQuest LLC cut its holdings in shares of Novavax, Inc. (NASDAQ:NVAX) by 87.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,936 shares of the biopharmaceutical company’s stock after selling 34,698 shares during the quarter. AlphaQuest LLC’s holdings in Novavax were worth $31,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in shares of Novavax by 4.1% in the 1st quarter. Bank of New York Mellon Corp now owns 454,432 shares of the biopharmaceutical company’s stock worth $2,913,000 after buying an additional 17,981 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Novavax in the first quarter worth about $290,000. Hussman Strategic Advisors Inc. raised its position in Novavax by 100.0% in the first quarter. Hussman Strategic Advisors Inc. now owns 168,000 shares of the biopharmaceutical company’s stock worth $1,077,000 after acquiring an additional 84,000 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Novavax in the first quarter valued at about $99,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Novavax during the 1st quarter valued at approximately $71,000. 53.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NVAX shares. TD Cowen decreased their price target on shares of Novavax from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday. Bank of America reissued an “underperform” rating and set a $7.00 price objective (down from $9.00) on shares of Novavax in a report on Wednesday, August 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of Novavax in a research report on Wednesday, October 8th. HC Wainwright boosted their target price on Novavax from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Cantor Fitzgerald began coverage on Novavax in a research note on Friday, October 24th. They set an “overweight” rating and a $18.00 price target for the company. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $10.71.

Novavax Stock Down 2.0%

NVAX stock opened at $7.44 on Friday. Novavax, Inc. has a twelve month low of $5.01 and a twelve month high of $11.55. The firm has a market capitalization of $1.21 billion, a PE ratio of 3.26, a PEG ratio of 0.12 and a beta of 2.68. The company has a quick ratio of 2.34, a current ratio of 2.36 and a debt-to-equity ratio of 5.93. The stock has a 50-day simple moving average of $8.39 and a two-hundred day simple moving average of $7.57.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($1.25) EPS for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.17). The firm had revenue of $70.45 million during the quarter, compared to the consensus estimate of $55.63 million. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. Novavax’s revenue was down 16.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.76) earnings per share. Novavax has set its FY 2025 guidance at EPS. On average, equities analysts predict 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.