5 Investors Betting Big on Novavax (NVAX) Stock

  • Switzerland’s drug regulator just recommended Novavax’s (NVAX) Nuvaxovid vaccine as a heterologous and homologous booster against Covid-19.
  • On Oct. 13, the biotechnology company will also share data concerning its Covid-19-Influenza Combination (CIC) and Covid-19 vaccines.
  • Shares of NVAX stock are down over 80% year-to-date (YTD).
Novavax (NVAX) logo surrounded by medical supplies
Source: Ascannio/Shutterstock.com

Novavax (NASDAQ:NVAX) stock closed higher by 6.7% today. Currently, the company is slated to share positive data from Phase 1 and 2 trials concerning its Covid-19-Influenza Combination (CIC) vaccine at the World Vaccine Congress (WVC) Europe 2022 event on Oct. 13. The biotechnology company will also share data on its protein-based coronavirus vaccine, Nuvaxovid, as a homologous and heterologous booster. In addition, President of Research and Development Gregory Glenn will hold a keynote panel tomorrow to discuss the next steps in combatting the pandemic.

Meanwhile, NVAX stock received another boost today after Switzerland’s Federal Office of Public Health (FOPH) recommended Nuvaxovid as a booster regardless of prior vaccine history. The health agency cited data supporting Nuvaxovid’s efficiency against omicron subvariants and noted that the immune response against these subvariants increases with booster shots. This recommendation will help Novavax increase its target adult population in the country.

Yesterday, Novavax also announced that it had filed a post approval change application to the Korean Ministry of Food and Drug Safety through its partner, SK Bioscience. The application seeks to use Nuvaxovid as a heterologous and homologous booster for adults aged 18 and over. This application comes after Novavax’s COV-BOOST trial found that the vaccine “induced a meaningful antibody response when used as a heterologous third booster dose.”

Nuvaxovid has been authorized in more than 40 countries and is currently undergoing Phase 2 and Phase 3 trials in the United States. Of course, U.S. authorization would certainly provide a positive catalyst for NVAX stock. However, the addressable market has shrunk considerably in the past year as individuals continue to receive vaccines from other approved providers.

5 Investors Betting Big on NVAX Stock

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During the second quarter, 313 13F filers reported owning NVAX stock, a considerable drop of 55 funds when compared to Q1. Meanwhile, the institutional put/call ratio sits at 1.17, down from 1.74 in Q1. This means that 13F filers still own more put options against the company than call options. However, shares owned by 13F filers totaled 33.3 million in Q2, up from 32.86 million shares during the previous quarter. With that in mind, let’s take a look at the top five shareholders.

  1. Vanguard: 7.35 million shares. Vanguard purchased 383,982 shares during Q2.
  2. BlackRock (NYSE:BLK): 4.25 million shares. BlackRock sold 257,364 shares during Q2.
  3. State Street (NYSE:STT): 2.96 million shares. State Street purchased 471,322 shares during Q2.
  4. Morgan Stanley (NYSE:MS): 1.28 million shares. Morgan Stanley purchased 383,415 shares during Q2.
  5. Coatue Management: 1.24 million shares. Coatue purchased 385,270 shares during Q2.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.


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