Northwestern Mutual Wealth Management Co. grew its position in shares of Novavax, Inc. (NASDAQ:NVAX – Get Rating) by 742.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,377 shares of the biopharmaceutical company’s stock after purchasing an additional 2,976 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Novavax were worth $483,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Spire Wealth Management raised its position in shares of Novavax by 186.7% during the fourth quarter. Spire Wealth Management now owns 172 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 112 shares during the last quarter. Selective Wealth Management Inc. bought a new position in shares of Novavax during the fourth quarter worth about $29,000. Moors & Cabot Inc. bought a new position in shares of Novavax during the third quarter worth about $32,000. TCI Wealth Advisors Inc. raised its position in shares of Novavax by 115.7% during the fourth quarter. TCI Wealth Advisors Inc. now owns 289 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 155 shares during the last quarter. Finally, Continuum Advisory LLC bought a new stake in Novavax in the third quarter worth approximately $45,000. 47.38% of the stock is currently owned by hedge funds and other institutional investors.
NVAX has been the subject of a number of research analyst reports. HC Wainwright lowered their target price on Novavax from $294.00 to $207.00 and set a “buy” rating for the company in a report on Thursday, March 3rd. Jefferies Financial Group began coverage on Novavax in a research report on Tuesday, February 22nd. They set a “buy” rating and a $198.00 target price on the stock. B. Riley lowered their target price on Novavax from $265.00 to $250.00 in a research report on Wednesday, March 2nd. Cowen began coverage on Novavax in a research report on Friday, January 21st. They set an “outperform” rating and a $150.00 target price on the stock. Finally, Cantor Fitzgerald lowered their target price on Novavax from $282.00 to $174.00 and set an “overweight” rating on the stock in a research report on Monday, February 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $204.86.
Novavax (NASDAQ:NVAX – Get Rating) last released its quarterly earnings results on Monday, February 28th. The biopharmaceutical company reported ($11.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.43) by ($9.75). The company had revenue of $222.20 million during the quarter, compared to analysts’ expectations of $331.79 million. Novavax had a negative net margin of 152.12% and a negative return on equity of 368.20%. The company’s quarterly revenue was down 20.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.70) earnings per share. As a group, sell-side analysts predict that Novavax, Inc. will post 22.84 EPS for the current fiscal year.
In other Novavax news, Director James F. Young sold 12,500 shares of the company’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $73.58, for a total value of $919,750.00. Following the completion of the transaction, the director now owns 62,590 shares in the company, valued at approximately $4,605,372.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.
Novavax Profile (Get Rating)
Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.
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