Rhumbline Advisers Boosts Stock Position in Novavax, Inc. (NASDAQ:NVAX)

Rhumbline Advisers increased its stake in Novavax, Inc. (NASDAQ:NVAX) by 39.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 199,909 shares of the biopharmaceutical company’s stock after buying an additional 56,324 shares during the period. Rhumbline Advisers’ holdings in Novavax were worth $2,531,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new position in Novavax in the 1st quarter valued at approximately $1,499,000. Edgestream Partners L.P. lifted its position in Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 2,447 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Novavax by 29.9% during the 1st quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 8,570 shares during the period. Swiss National Bank lifted its holdings in shares of Novavax by 17.1% during the 1st quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock valued at $1,009,000 after buying an additional 30,800 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Novavax by 45.9% during the 4th quarter. Allianz Asset Management GmbH now owns 634,692 shares of the biopharmaceutical company’s stock valued at $3,047,000 after buying an additional 199,771 shares during the period. 53.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NVAX has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. B. Riley reissued a “buy” rating and set a $23.00 price target (down from $25.00) on shares of Novavax in a report on Monday, August 12th. Finally, Bank of America increased their price target on Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.80.

Novavax Price Performance

NASDAQ:NVAX opened at $12.56 on Thursday. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -3.96 and a beta of 2.04. Novavax, Inc. has a one year low of $3.53 and a one year high of $23.86. The business has a fifty day moving average price of $13.02 and a 200-day moving average price of $10.59.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.83). The firm had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $458.57 million. Novavax’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.58 EPS. On average, equities research analysts expect that Novavax, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at Novavax

In other news, Director James F. Young sold 7,500 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $14.09, for a total value of $105,675.00. Following the completion of the sale, the director now directly owns 61,760 shares in the company, valued at approximately $870,198.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by company insiders.

About Novavax

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.