Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 4.81MM shares of Novavax, Inc. (NVAX). This represents 5.7% of the company.
In their previous filing dated March 11, 2022 they reported 4.41MM shares and 5.80% of the company, an increase in shares of 9.01% and a decrease in total ownership of 0.10% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 417.32% Upside
As of February 1, 2023, the average one-year price target for Novavax is $56.44. The forecasts range from a low of $13.13 to a high of $115.50. The average price target represents an increase of 417.32% from its latest reported closing price of $10.91.
The projected annual revenue for Novavax is $1,367MM, a decrease of 25.97%. The projected annual EPS is $-5.42.
Fund Sentiment
There are 455 funds or institutions reporting positions in Novavax. This is a decrease of 86 owner(s) or 15.90%.
Average portfolio weight of all funds dedicated to US:NVAX is 0.0674%, a decrease of 33.3966%. Total shares owned by institutions increased in the last three months by 11.40% to 38,584K shares.
What are large shareholders doing?
XBI - SPDR Biotech ETF holds 2,394,072 shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 1,775,406 shares, representing an increase of 25.84%. The firm decreased its portfolio allocation in NVAX by 52.23% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,352,023 shares representing 2.74% ownership of the company. In it's prior filing, the firm reported owning 2,299,297 shares, representing an increase of 2.24%. The firm decreased its portfolio allocation in NVAX by 62.27% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,985,844 shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 1,974,051 shares, representing an increase of 0.59%. The firm decreased its portfolio allocation in NVAX by 62.88% over the last quarter.
Citigroup holds 1,428,358 shares representing 1.66% ownership of the company. In it's prior filing, the firm reported owning 1,222,803 shares, representing an increase of 14.39%. The firm decreased its portfolio allocation in NVAX by 60.25% over the last quarter.
Voloridge Investment Management holds 1,333,706 shares representing 1.55% ownership of the company. In it's prior filing, the firm reported owning 848,139 shares, representing an increase of 36.41%. The firm decreased its portfolio allocation in NVAX by 41.96% over the last quarter.
Novavax Background Information
(This description is provided by the company.)
Novavax, Inc. is a biotechnology company that promotes improved health globally through the discovery, development and commercialization of innovative vaccines to prevent serious infectious diseases. The company's proprietary recombinant technology platform combines the power and speed of genetic engineering to efficiently produce highly immunogenic nanoparticles designed to address urgent global health needs. Novavax is conducting late-stage clinical trials for NVX-CoV2373, its vaccine candidate against SARS-CoV-2, the virus that causes COVID-19. NanoFlu™, its quadrivalent influenza nanoparticle vaccine, met all primary objectives in its pivotal Phase 3 clinical trial in older adults and will be advanced for regulatory submission. Both vaccine candidates incorporate Novavax' proprietary saponin-based Matrix-M™ adjuvant to enhance the immune response and stimulate high levels of neutralizing antibodies.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
