Novavax, Inc. (NASDAQ:NVAX) Shares Sold by Farallon Capital Management LLC

Farallon Capital Management LLC lessened its holdings in Novavax, Inc. (NASDAQ:NVAX) by 66.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 377,250 shares of the biopharmaceutical company’s stock after selling 753,750 shares during the quarter. Farallon Capital Management LLC’s holdings in Novavax were worth $4,776,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Amalgamated Bank increased its stake in Novavax by 26.9% during the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,036 shares in the last quarter. Ensign Peak Advisors Inc increased its position in shares of Novavax by 3.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock valued at $568,000 after acquiring an additional 1,300 shares during the period. Edgestream Partners L.P. raised its stake in Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 2,447 shares during the last quarter. Banque Cantonale Vaudoise lifted its position in Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 2,500 shares during the period. Finally, Ameritas Investment Partners Inc. grew its stake in Novavax by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 2,711 shares during the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVAX. Bank of America raised their price objective on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. lifted their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. Finally, B. Riley reiterated a “buy” rating and issued a $23.00 price objective (down previously from $25.00) on shares of Novavax in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Novavax presently has a consensus rating of “Hold” and an average target price of $15.80.

Novavax Stock Performance

NVAX stock opened at $12.80 on Tuesday. The firm’s fifty day moving average is $12.96 and its 200 day moving average is $10.78. The firm has a market cap of $1.80 billion, a PE ratio of -4.04 and a beta of 2.04. Novavax, Inc. has a one year low of $3.53 and a one year high of $23.86.

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

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.