Novavax, Inc. (NASDAQ:NVAX) Shares Sold by Quest Partners LLC

Quest Partners LLC decreased its position in shares of Novavax, Inc. (NASDAQ:NVAX) by 94.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,737 shares of the biopharmaceutical company’s stock after selling 44,090 shares during the quarter. Quest Partners LLC’s holdings in Novavax were worth $35,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NVAX. Sargent Investment Group LLC boosted its stake in shares of Novavax by 32.4% in the 3rd quarter. Sargent Investment Group LLC now owns 40,835 shares of the biopharmaceutical company’s stock valued at $516,000 after buying an additional 10,000 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Novavax by 12.0% during the third quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 2,072 shares during the period. Entropy Technologies LP acquired a new stake in shares of Novavax during the third quarter worth $158,000. Los Angeles Capital Management LLC purchased a new position in Novavax during the third quarter worth about $368,000. Finally, US Bancorp DE raised its position in Novavax by 3,538.8% in the third quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company’s stock worth $155,000 after acquiring an additional 11,961 shares in the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Novavax Stock Up 1.2 %

NVAX stock opened at $8.72 on Monday. The stock’s 50 day moving average is $10.40 and its two-hundred day moving average is $12.56. Novavax, Inc. has a 52-week low of $3.53 and a 52-week high of $23.86. The company has a market capitalization of $1.40 billion, a PE ratio of -3.86 and a beta of 2.10.

Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.07. The company had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. Novavax’s revenue for the quarter was down 54.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.26) EPS. As a group, sell-side analysts anticipate that Novavax, Inc. will post -1.4 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on NVAX shares. Jefferies Financial Group decreased their target price on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. B. Riley reiterated a “buy” rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Novavax in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.83.

About Novavax

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.