Sargent Investment Group LLC Buys 11,250 Shares of Novavax, Inc. (NASDAQ:NVAX)

Sargent Investment Group LLC grew its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 57.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,835 shares of the biopharmaceutical company’s stock after buying an additional 11,250 shares during the period. Sargent Investment Group LLC’s holdings in Novavax were worth $390,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Edgestream Partners L.P. lifted its holdings in Novavax by 23.7% during the first quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 2,447 shares in the last quarter. Banque Cantonale Vaudoise raised its position in shares of Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,500 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Novavax by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 2,711 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Novavax by 214.5% during the 2nd quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 3,874 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Novavax by 8.9% in the 2nd quarter. Federated Hermes Inc. now owns 49,428 shares of the biopharmaceutical company’s stock worth $626,000 after buying an additional 4,045 shares during the period. 53.04% of the stock is currently owned by institutional investors.

Insider Activity at Novavax

In other Novavax news, Director James F. Young sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $14.09, for a total transaction of $105,675.00. Following the sale, the director now directly owns 61,760 shares of the company’s stock, valued at $870,198.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. B. Riley reissued a “buy” rating and set a $23.00 price target (down from $25.00) on shares of Novavax in a report on Monday, August 12th. Bank of America lifted their target price on Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. upped their price target on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.80.

Novavax Price Performance

NASDAQ NVAX opened at $13.20 on Tuesday. Novavax, Inc. has a 1-year low of $3.53 and a 1-year high of $23.86. The business has a 50 day simple moving average of $12.99 and a two-hundred day simple moving average of $10.52. The stock has a market capitalization of $1.85 billion, a PE ratio of -4.16 and a beta of 2.04.

Novavax (NASDAQ:NVAX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The company had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $458.57 million. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share. On average, analysts anticipate that Novavax, Inc. will post -1.04 EPS for the current fiscal year.

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.