ETF Managers Group LLC Raises Stake in Novavax, Inc. (NASDAQ:NVAX)

Posted by on Jul 2nd, 2023

ETF Managers Group LLC boosted its holdings in Novavax, Inc. (NASDAQ:NVAX – Free Report) by 46.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 28,610 shares of the biopharmaceutical company’s stock after buying an additional 9,038 shares during the period. ETF Managers Group LLC’s holdings in Novavax were worth $198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. TSP Capital Management Group LLC increased its position in shares of Novavax by 1,383.6% in the first quarter. TSP Capital Management Group LLC now owns 237,750 shares of the biopharmaceutical company’s stock worth $1,648,000 after acquiring an additional 221,725 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Novavax by 82.4% in the 1st quarter. Vontobel Holding Ltd. now owns 169,425 shares of the biopharmaceutical company’s stock valued at $1,174,000 after purchasing an additional 76,525 shares in the last quarter. Point72 Middle East FZE acquired a new stake in Novavax in the 4th quarter valued at $312,000. Bridgefront Capital LLC purchased a new position in Novavax in the fourth quarter valued at about $109,000. Finally, SevenOneSeven Capital Management lifted its stake in shares of Novavax by 113.5% during the fourth quarter. SevenOneSeven Capital Management now owns 10,894 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 5,791 shares in the last quarter. 68.18% of the stock is owned by institutional investors and hedge funds.

Novavax Price Performance

NASDAQ NVAX opened at $7.43 on Friday. The company’s fifty day moving average price is $7.65 and its two-hundred day moving average price is $8.76. The company has a market capitalization of $641.28 million, a price-to-earnings ratio of -0.52 and a beta of 1.72. Novavax, Inc. has a 12 month low of $5.61 and a 12 month high of $76.77.

Novavax (NASDAQ:NVAX – Free Report) last issued its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($3.41) EPS for the quarter, missing the consensus estimate of ($3.38) by ($0.03). The firm had revenue of $81.00 million for the quarter, compared to analyst estimates of $94.52 million. During the same quarter last year, the firm earned $2.56 earnings per share. The business’s revenue was down 88.5% on a year-over-year basis. As a group, analysts anticipate that Novavax, Inc. will post -2.76 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. TD Cowen lowered Novavax from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 20th. StockNews.com downgraded shares of Novavax from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, HC Wainwright lowered their price target on shares of Novavax from $110.00 to $35.00 in a report on Wednesday, May 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Novavax presently has an average rating of “Hold” and a consensus price target of $51.20.

About Novavax

(Free Report)

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.

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Institutional Ownership by Quarter for Novavax (NASDAQ:NVAX)

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