Assenagon Asset Management S.A. Makes New Investment in Novavax, Inc. $NVAX

Assenagon Asset Management S.A. acquired a new stake in shares of Novavax, Inc. (NASDAQ:NVAX) during the 1st quarter, HoldingsChannel reports. The fund acquired 364,770 shares of the biopharmaceutical company’s stock, valued at approximately $2,969,000.

Other institutional investors have also modified their holdings of the company. Shah Capital Management raised its position in shares of Novavax by 23.3% during the 4th quarter. Shah Capital Management now owns 14,558,780 shares of the biopharmaceutical company’s stock worth $97,835,000 after purchasing an additional 2,747,000 shares during the last quarter. Farallon Capital Management LLC lifted its stake in Novavax by 4,775.0% in the 3rd quarter. Farallon Capital Management LLC now owns 780,000 shares of the biopharmaceutical company’s stock valued at $6,763,000 after buying an additional 764,000 shares in the last quarter. UBS Group AG boosted its holdings in Novavax by 40.3% in the 4th quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock worth $32,890,000 after buying an additional 1,405,981 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Novavax by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company’s stock worth $103,961,000 after buying an additional 275,802 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Novavax by 107.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 199,106 shares of the biopharmaceutical company’s stock worth $1,338,000 after buying an additional 102,945 shares in the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

Wall Street Analysts Forecast Growth

NVAX has been the subject of a number of research analyst reports. BTIG Research reissued a “buy” rating and set a $19.00 target price on shares of Novavax in a report on Thursday, June 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novavax in a research note on Thursday, March 12th. B. Riley Financial reiterated a “buy” rating on shares of Novavax in a research report on Thursday, April 9th. TD Cowen increased their price objective on Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings lowered Novavax from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.00.

Novavax Trading Up 0.6%

NVAX stock opened at $9.42 on Wednesday. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -16.24 and a beta of 2.45. Novavax, Inc. has a 12 month low of $6.20 and a 12 month high of $11.97. The firm has a 50-day moving average of $9.17 and a two-hundred day moving average of $8.75.

Novavax (NASDAQ:NVAX) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.19. The business had revenue of $118.90 million for the quarter, compared to analyst estimates of $79.81 million. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The business’s revenue was down 79.0% on a year-over-year basis. During the same period last year, the company posted $2.93 EPS. As a group, equities analysts forecast that Novavax, Inc. will post -0.19 earnings per share 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.