Novavax, Inc. (NASDAQ:NVAX) is Shah Capital Management’s 2nd Largest Position

Shah Capital Management lifted its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 13.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,148,846 shares of the biopharmaceutical company’s stock after purchasing an additional 1,333,305 shares during the quarter. Novavax comprises approximately 18.1% of Shah Capital Management’s portfolio, making the stock its 2nd biggest position. Shah Capital Management owned about 6.96% of Novavax worth $89,637,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Amalgamated Bank raised 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. Ensign Peak Advisors Inc raised its position in Novavax by 3.0% in the second quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock worth $568,000 after acquiring an additional 1,300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,598 shares in the last quarter. Victory Capital Management Inc. raised its position in Novavax by 12.0% in the third quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock worth $244,000 after acquiring an additional 2,072 shares in the last quarter. Finally, Creative Planning raised its position in Novavax by 12.5% in the second quarter. Creative Planning now owns 24,143 shares of the biopharmaceutical company’s stock worth $306,000 after acquiring an additional 2,692 shares in the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVAX. B. Riley reiterated a “buy” rating and issued a $26.00 price objective (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Novavax in a report on Tuesday, December 10th. Finally, Jefferies Financial Group lowered their target price on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.83.

Novavax Stock Performance

Novavax stock opened at $9.22 on Monday. The stock’s 50-day moving average is $8.73 and its 200-day moving average is $10.91. Novavax, Inc. has a 12 month low of $3.53 and a 12 month high of $23.86.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.07. The firm had revenue of $84.51 million during the quarter, compared to analysts’ expectations of $65.80 million. The business’s revenue for the quarter was down 54.8% compared to the same quarter last year. During the same quarter last year, the business earned ($1.26) earnings per share. Sell-side analysts expect that Novavax, Inc. will post -1.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director Rachel K. King sold 4,150 shares of Novavax stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $9.02, for a total value of $37,433.00. Following the completion of the transaction, the director now owns 14,770 shares in the company, valued at approximately $133,225.40. This trade represents a 21.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James F. Young sold 5,400 shares of Novavax stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total value of $43,200.00. Following the completion of the transaction, the director now owns 51,760 shares of the company’s stock, valued at approximately $414,080. The trade was a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,150 shares of company stock worth $119,641 in the last three months. 1.00% of the stock is owned by insiders.

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.