SG Americas Securities LLC Cuts Holdings in Novavax, Inc. $NVAX

SG Americas Securities LLC trimmed its position in Novavax, Inc. (NASDAQ:NVAX) by 85.6% during the 1st quarter, HoldingsChannel reports. The firm owned 141,085 shares of the biopharmaceutical company’s stock after selling 835,303 shares during the quarter. SG Americas Securities LLC’s holdings in Novavax were worth $1,148,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Novavax by 1.8% in the fourth 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 in the last quarter. Shah Capital Management increased its stake in Novavax by 23.3% in the 4th quarter. Shah Capital Management now owns 14,558,780 shares of the biopharmaceutical company’s stock worth $97,835,000 after acquiring an additional 2,747,000 shares during the last quarter. State Street Corp increased its stake in Novavax by 32.3% in the 4th quarter. State Street Corp now owns 9,523,646 shares of the biopharmaceutical company’s stock worth $63,999,000 after acquiring an additional 2,326,927 shares during the last quarter. UBS Group AG raised its holdings in shares of Novavax by 40.3% during the 4th quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock worth $32,890,000 after acquiring an additional 1,405,981 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Novavax by 0.5% during the 3rd quarter. Bank of America Corp DE now owns 3,101,074 shares of the biopharmaceutical company’s stock worth $26,886,000 after acquiring an additional 15,685 shares in the last quarter. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Novavax Price Performance

Shares of NVAX stock opened at $9.74 on Friday. The company has a market cap of $1.60 billion, a PE ratio of -16.79 and a beta of 2.43. Novavax, Inc. has a 1 year low of $6.20 and a 1 year high of $11.97. The stock’s 50 day simple moving average is $9.23 and its two-hundred day simple moving average is $8.80.

Novavax (NASDAQ:NVAX) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.19. The firm had revenue of $118.90 million during the quarter, compared to analysts’ expectations of $79.81 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.The company’s quarterly revenue was down 79.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 EPS. Equities research analysts expect that Novavax, Inc. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVAX. Jefferies Financial Group reissued a “buy” rating on shares of Novavax in a report on Thursday, March 12th. Weiss Ratings downgraded shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. TD Cowen increased their price objective on shares of Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research report on Thursday, June 11th. Finally, Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a research note on Sunday, May 31st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Novavax presently has a consensus rating of “Hold” and a consensus target price of $13.00.

Novavax 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.