Edgestream Partners L.P. Makes New $4.23 Million Investment in Novavax, Inc. $NVAX

Edgestream Partners L.P. acquired a new stake in Novavax, Inc. (NASDAQ:NVAX) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 520,135 shares of the biopharmaceutical company’s stock, valued at approximately $4,234,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Novavax in the third quarter valued at approximately $33,000. Duncker Streett & Co. Inc. increased its holdings in shares of Novavax by 917.3% during the 1st quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 3,825 shares during the last quarter. KBC Group NV increased its holdings in shares of Novavax by 34.9% during the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 1,229 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in Novavax in the 4th quarter valued at $33,000. Finally, Danske Bank A S bought a new stake in Novavax in the 3rd quarter valued at $64,000. Institutional investors own 53.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NVAX. B. Riley Financial reaffirmed a “buy” rating on shares of Novavax in a report on Thursday, April 9th. TD Cowen upped their price objective on shares of Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. BTIG Research reissued a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research report on Thursday, June 11th. Wall Street Zen cut shares of Novavax from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings downgraded shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Novavax presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Novavax Trading Down 1.6%

Shares of NASDAQ NVAX opened at $7.32 on Friday. The firm has a market cap of $1.20 billion, a P/E ratio of -12.62 and a beta of 2.43. The business’s 50 day moving average is $9.00 and its 200-day moving average is $8.99. Novavax, Inc. has a 1-year low of $6.20 and a 1-year high of $11.97.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results 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. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.The business had revenue of $118.90 million during the quarter, compared to the consensus estimate of $79.81 million. During the same period in the previous year, the company posted $2.93 EPS. The firm’s quarterly revenue was down 79.0% on a year-over-year basis. Analysts forecast that Novavax, Inc. will post -0.19 EPS for the current year.

Novavax Company 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.