The PNC Financial Services Group Inc. Has $220,000 Stock Position in Novavax, Inc. (NASDAQ:NVAX)

The PNC Financial Services Group Inc. grew its stake in shares of Novavax, Inc. (NASDAQ:NVAX) by 33.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,218 shares of the biopharmaceutical company’s stock after purchasing an additional 306 shares during the quarter. The PNC Financial Services Group Inc.’s holdings in Novavax were worth $220,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Signaturefd LLC increased its holdings in shares of Novavax by 62.2% during the 1st quarter. Signaturefd LLC now owns 146 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Carroll Financial Associates Inc. acquired a new position in shares of Novavax during the 1st quarter worth approximately $27,000. Sittner & Nelson LLC acquired a new position in shares of Novavax during the 4th quarter worth approximately $28,000. Neo Ivy Capital Management increased its holdings in shares of Novavax by 17,850.0% during the 4th quarter. Neo Ivy Capital Management now owns 359 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 357 shares during the last quarter. Finally, Adirondack Trust Co. acquired a new position in shares of Novavax during the 4th quarter worth approximately $51,000. 56.59% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:NVAX opened at $204.94 on Friday. The firm’s fifty day moving average is $179.80. The company has a market cap of $15.18 billion, a P/E ratio of -22.13 and a beta of 1.56. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.33. Novavax, Inc. has a fifty-two week low of $43.11 and a fifty-two week high of $331.68.

Novavax (NASDAQ:NVAX) last released its earnings results on Monday, May 10th. The biopharmaceutical company reported ($3.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.40). The company had revenue of $447.00 million for the quarter, compared to the consensus estimate of $233.90 million. Novavax had a negative net margin of 66.90% and a negative return on equity of 125.71%. The business’s revenue was up 13124.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.58) earnings per share. On average, analysts expect that Novavax, Inc. will post -6.19 EPS for the current fiscal year.

In other Novavax news, Director Rachel K. King purchased 700 shares of the stock in a transaction dated Wednesday, May 19th. The stock was bought at an average price of $139.64 per share, with a total value of $97,748.00. Following the acquisition, the director now owns 2,800 shares of the company’s stock, valued at $390,992. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John A. Herrmann III sold 2,895 shares of the business’s stock in a transaction on Friday, May 28th. The stock was sold at an average price of $149.14, for a total value of $431,760.30. Following the transaction, the executive vice president now directly owns 691 shares of the company’s stock, valued at approximately $103,055.74. The disclosure for this sale can be found here. Insiders have sold a total of 77,969 shares of company stock valued at $15,653,486 in the last three months. 2.10% of the stock is owned by insiders.

A number of research firms recently weighed in on NVAX. Jefferies Financial Group decreased their target price on Novavax from $310.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, May 11th. Cantor Fitzgerald decreased their target price on Novavax from $338.00 to $217.00 and set an “overweight” rating on the stock in a report on Wednesday, May 12th. Zacks Investment Research downgraded Novavax from a “hold” rating to a “strong sell” rating and set a $118.00 price target for the company. in a research note on Wednesday, May 12th. B. Riley reduced their price target on Novavax from $365.00 to $286.00 and set a “buy” rating for the company in a research note on Wednesday, May 12th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $161.00 price target (down from $285.00) on shares of Novavax in a research note on Tuesday, May 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $202.29.

Novavax Profile

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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Institutional Ownership by Quarter for Novavax (NASDAQ:NVAX)

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