SG Americas Securities LLC Lowers Position in Novavax, Inc. $NVAX

SG Americas Securities LLC lessened its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 85.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 141,085 shares of the biopharmaceutical company’s stock after selling 835,303 shares during the period. SG Americas Securities LLC owned 0.09% of Novavax worth $1,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new position in shares of Novavax during the 4th quarter valued at about $33,000. Quarry LP purchased a new stake in Novavax in the 3rd quarter worth approximately $33,000. State of Wyoming purchased a new stake in Novavax in the 2nd quarter worth approximately $52,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Novavax by 25.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,896 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 1,617 shares during the period. Finally, Danske Bank A S bought a new stake in Novavax during the 3rd quarter worth approximately $64,000. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Novavax Stock Performance

Shares of NVAX opened at $9.74 on Friday. The business’s 50 day moving average is $9.23 and its 200 day moving average is $8.80. Novavax, Inc. has a 12-month low of $6.20 and a 12-month high of $11.97. The company has a market capitalization of $1.60 billion, a PE ratio of -16.79 and a beta of 2.43.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVAX. BTIG Research reiterated a “buy” rating and issued a $19.00 price target on shares of Novavax in a research report on Thursday, June 11th. TD Cowen raised 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. B. Riley Financial restated a “buy” rating on shares of Novavax in a research note on Thursday, April 9th. Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a report on Sunday, May 31st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Novavax in a research note on Thursday, March 12th. Five investment 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.