Algert Global LLC Buys Shares of 12,701 Novavax, Inc. (NASDAQ:NVAX)

Algert Global LLC bought a new stake in Novavax, Inc. (NASDAQ:NVAX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,701 shares of the biopharmaceutical company’s stock, valued at approximately $161,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVAX. Banque Cantonale Vaudoise boosted its position in shares of Novavax by 500.0% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 2,500 shares during the period. Amalgamated Bank boosted its position in shares of Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,036 shares during the period. Swedbank AB acquired a new position in shares of Novavax during the first quarter worth approximately $26,000. Signaturefd LLC boosted its position in shares of Novavax by 214.5% during the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock worth $72,000 after buying an additional 3,874 shares during the period. Finally, Herr Investment Group LLC acquired a new position in shares of Novavax during the first quarter worth approximately $48,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NVAX shares. Jefferies Financial Group reiterated a “buy” rating and set a $31.00 price objective on shares of Novavax in a research report on Wednesday, October 2nd. B. Riley reiterated a “buy” rating and set a $26.00 price objective (up from $23.00) on shares of Novavax in a research report on Thursday. Bank of America upped their target price on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. upped their target price on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.83.

Novavax Price Performance

NVAX opened at $12.91 on Friday. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -4.07 and a beta of 2.04. Novavax, Inc. has a 1-year low of $3.53 and a 1-year high of $23.86. The business has a 50 day moving average price of $12.45 and a two-hundred day moving average price of $11.42.

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

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.