Shah Capital Management Has $120.84 Million Stake in Novavax, Inc. $NVAX

Shah Capital Management lifted its stake in Novavax, Inc. (NASDAQ:NVAX) by 2.0% in the first quarter, Holdings Channel.com reports. The firm owned 14,845,097 shares of the biopharmaceutical company’s stock after buying an additional 286,317 shares during the period. Novavax comprises about 23.2% of Shah Capital Management’s holdings, making the stock its 2nd biggest position. Shah Capital Management owned approximately 0.09% of Novavax worth $120,839,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NVAX. Flagship Harbor Advisors LLC purchased a new stake in Novavax during the 4th quarter valued at $33,000. Quarry LP purchased a new position in Novavax during the third quarter worth $33,000. State of Wyoming purchased a new position in Novavax during the second quarter worth $52,000. Mirae Asset Global Investments Co. Ltd. increased its position in Novavax by 25.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,896 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 1,617 shares during the last quarter. Finally, Danske Bank A S bought a new position in Novavax during the third quarter valued at $64,000. Institutional investors own 53.04% of the company’s stock.

Analysts Set New Price Targets

NVAX has been the subject of several analyst reports. Jefferies Financial Group restated a “buy” rating on shares of Novavax in a report on Thursday, March 12th. Weiss Ratings downgraded shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. TD Cowen increased their price objective on shares of Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a research note on Sunday, May 31st. Finally, BTIG Research reissued a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research note on Thursday, June 11th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.00.

Novavax Price Performance

NVAX stock opened at $9.42 on Wednesday. Novavax, Inc. has a 12 month low of $6.20 and a 12 month high of $11.97. The firm’s 50-day moving average is $9.17 and its 200 day moving average is $8.75. The company has a market capitalization of $1.55 billion, a PE ratio of -16.24 and a beta of 2.45.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.19. The company had revenue of $118.90 million during the quarter, compared to analysts’ expectations of $79.81 million. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The firm’s quarterly revenue was down 79.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.93 EPS. Sell-side analysts forecast that Novavax, Inc. will post -0.19 EPS for the current fiscal year.

Novavax Profile

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.