Allianz Asset Management GmbH Acquires 872,987 Shares of Novavax, Inc. $NVAX

Allianz Asset Management GmbH lifted its holdings in Novavax, Inc. (NASDAQ:NVAX) by 162.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,409,734 shares of the biopharmaceutical company’s stock after purchasing an additional 872,987 shares during the period. Allianz Asset Management GmbH owned 0.87% of Novavax worth $12,222,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Jupiter Asset Management Ltd. lifted its position in shares of Novavax by 195.9% in the second quarter. Jupiter Asset Management Ltd. now owns 880,410 shares of the biopharmaceutical company’s stock worth $5,547,000 after buying an additional 582,858 shares during the last quarter. HRT Financial LP raised its stake in shares of Novavax by 191.8% in the 2nd quarter. HRT Financial LP now owns 615,649 shares of the biopharmaceutical company’s stock valued at $3,878,000 after acquiring an additional 404,676 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in Novavax in the 2nd quarter worth approximately $1,321,000. Campbell & CO Investment Adviser LLC bought a new stake in Novavax during the second quarter worth approximately $1,193,000. Finally, Nebula Research & Development LLC bought a new stake in Novavax during the second quarter worth approximately $923,000. 53.04% of the stock is owned by institutional investors and hedge funds.

Novavax Stock Up 4.8%

NVAX opened at $8.25 on Monday. The company has a market capitalization of $1.34 billion, a P/E ratio of 4.61 and a beta of 2.58. The company has a debt-to-equity ratio of 5.93, a current ratio of 2.27 and a quick ratio of 2.24. The firm’s fifty day moving average price is $7.59 and its two-hundred day moving average price is $7.85. Novavax, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $10.64.

Novavax (NASDAQ:NVAX) last posted its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.17). The business had revenue of $70.45 million during the quarter, compared to the consensus estimate of $55.63 million. Novavax had a net margin of 32.10% and a negative return on equity of 217.02%. During the same period in the previous year, the firm earned ($0.76) EPS. The business’s revenue was down 16.7% compared to the same quarter last year. On average, analysts anticipate that Novavax, Inc. will post -1.46 EPS for the current year.

Analyst Ratings Changes

NVAX has been the subject of a number of analyst reports. TD Cowen reduced their price objective on shares of Novavax from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Wall Street Zen lowered shares of Novavax from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. HC Wainwright raised their price target on Novavax from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. B. Riley Financial reiterated a “buy” rating and issued a $16.00 price objective (down from $18.00) on shares of Novavax in a research note on Monday, November 10th. Finally, JPMorgan Chase & Co. cut their price objective on Novavax from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.25.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.