Paloma Partners Management Co trimmed its stake in Novavax, Inc. (NASDAQ:NVAX) by 68.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 42,900 shares of the biopharmaceutical company’s stock after selling 93,200 shares during the period. Paloma Partners Management Co’s holdings in Novavax were worth $79,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Opti Capital Management LP bought a new stake in shares of Novavax during the fourth quarter valued at about $39,000. Toroso Investments LLC bought a new stake in shares of Novavax during the fourth quarter valued at about $82,000. Two Sigma Advisers LP raised its stake in shares of Novavax by 39.4% during the fourth quarter. Two Sigma Advisers LP now owns 1,696,849 shares of the biopharmaceutical company’s stock valued at $3,122,000 after purchasing an additional 479,387 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Novavax by 223.6% during the fourth quarter. Two Sigma Investments LP now owns 3,282,564 shares of the biopharmaceutical company’s stock valued at $6,040,000 after purchasing an additional 2,268,080 shares in the last quarter. Finally, Sargent Investment Group LLC bought a new stake in shares of Novavax during the fourth quarter valued at about $803,000. 35.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of NVAX opened at $0.56 on Tuesday. The stock has a market capitalization of $243.14 million, a P/E ratio of -1.12 and a beta of 2.04. Novavax, Inc. has a 1-year low of $0.49 and a 1-year high of $2.58.
In other Novavax news, Director Rachel K. King bought 86,000 shares of the stock in a transaction on Wednesday, March 27th. The shares were bought at an average price of $0.53 per share, with a total value of $45,580.00. Following the purchase, the director now directly owns 42,000 shares in the company, valued at approximately $22,260. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.40% of the company’s stock.
Several equities research analysts have commented on the stock. Zacks Investment Research cut shares of Novavax from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded shares of Novavax from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Cantor Fitzgerald set a $1.00 price target on shares of Novavax and gave the stock a “hold” rating in a research report on Tuesday, March 19th. LADENBURG THALM/SH SH set a $4.00 price target on shares of Novavax and gave the stock a “buy” rating in a research report on Friday, January 4th. Finally, CIBC assumed coverage on shares of Novavax in a research report on Tuesday, December 11th. They issued an “outperform” rating and a $4.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $2.71.
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Novavax Company Profile
Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.
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