Profund Advisors LLC Has $624,000 Stock Holdings in Novavax, Inc. (NASDAQ:NVAX)

Profund Advisors LLC reduced its position in Novavax, Inc. (NASDAQ:NVAX) by 80.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,313 shares of the biopharmaceutical company’s stock after selling 207,745 shares during the period. Profund Advisors LLC’s holdings in Novavax were worth $624,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise grew its stake in shares of Novavax by 500.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 2,500 shares in the last quarter. Amalgamated Bank grew its position in Novavax by 26.9% in the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 1,036 shares in the last quarter. Swedbank AB acquired a new position in shares of Novavax during the 1st quarter worth $26,000. Signaturefd LLC raised its holdings in shares of Novavax by 214.5% during the 2nd quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 3,874 shares in the last quarter. Finally, Herr Investment Group LLC acquired a new stake in shares of Novavax in the 1st quarter valued at $48,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Stock Up 3.8 %

NVAX opened at $13.29 on Wednesday. The stock’s 50 day moving average price is $12.90 and its two-hundred day moving average price is $10.83. The firm has a market capitalization of $1.87 billion, a P/E ratio of -4.19 and a beta of 2.04. Novavax, Inc. has a 12-month low of $3.53 and a 12-month high of $23.86.

Novavax (NASDAQ:NVAX) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The company had revenue of $415.50 million for the quarter, compared to analyst estimates of $458.57 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, analysts anticipate that Novavax, Inc. will post -1.04 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on NVAX. JPMorgan Chase & Co. increased their target price on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. Bank of America upped their price target on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. Finally, B. Riley reissued a “buy” rating and issued a $23.00 price objective (down from $25.00) on shares of Novavax in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.80.

Novavax Company 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.