Alpine Global Management LLC Takes Position in Novavax, Inc. (NASDAQ:NVAX)

Alpine Global Management LLC purchased a new position in Novavax, Inc. (NASDAQ:NVAX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,225 shares of the biopharmaceutical company’s stock, valued at approximately $49,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Edgestream Partners L.P. boosted its position in shares of Novavax by 23.7% in the first quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 2,447 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Novavax by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 2,711 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Novavax by 102.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,944 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 7,072 shares during the last quarter. American International Group Inc. grew its stake in shares of Novavax by 17.9% during the 1st quarter. American International Group Inc. now owns 55,832 shares of the biopharmaceutical company’s stock valued at $267,000 after buying an additional 8,492 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Novavax by 29.9% during the 1st quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 8,570 shares during the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Novavax Stock Performance

Shares of NVAX stock traded up $0.44 during trading hours on Friday, reaching $17.11. The company had a trading volume of 7,143,752 shares, compared to its average volume of 7,195,673. The company has a market capitalization of $2.40 billion, a P/E ratio of -5.40 and a beta of 1.98. Novavax, Inc. has a twelve month low of $3.53 and a twelve month high of $23.86. The stock’s fifty day simple moving average is $14.86 and its 200 day simple moving average is $8.47.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The firm had revenue of $93.90 million for the quarter, compared to the consensus estimate of $71.32 million. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.41) EPS. As a group, equities analysts expect that Novavax, Inc. will post 0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

NVAX has been the topic of a number of research analyst reports. Bank of America lifted their target price on Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, June 14th. B. Riley lifted their price objective on Novavax from $11.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upgraded Novavax from an “underweight” rating to a “neutral” rating in a report on Friday, May 10th. HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Novavax in a report on Monday, May 13th. Finally, TD Cowen boosted their price objective on shares of Novavax from $5.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.00.

Insiders Place Their Bets

In other news, Director James F. Young sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $13.72, for a total transaction of $102,900.00. Following the completion of the sale, the director now directly owns 69,260 shares in the company, valued at $950,247.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Novavax news, insider Filip Dubovsky sold 47,312 shares of Novavax stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total transaction of $657,636.80. Following the sale, the insider now directly owns 38,953 shares in the company, valued at approximately $541,446.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James F. Young sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total value of $102,900.00. Following the completion of the transaction, the director now directly owns 69,260 shares in the company, valued at $950,247.20. The disclosure for this sale can be found here. Insiders have sold 62,312 shares of company stock worth $866,212 in the last quarter. 0.90% of the stock is owned by corporate insiders.

Novavax 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.