Invesco Ltd. Boosts Stake in Novavax, Inc. $NVAX

Invesco Ltd. boosted its position in shares of Novavax, Inc. (NASDAQ:NVAX) by 84.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 284,122 shares of the biopharmaceutical company’s stock after acquiring an additional 129,697 shares during the quarter. Invesco Ltd. owned 0.18% of Novavax worth $1,821,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new stake in Novavax during the fourth quarter valued at $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Novavax in the first quarter worth about $71,000. GAMMA Investing LLC increased its position in Novavax by 2,272.5% in the first quarter. GAMMA Investing LLC now owns 11,839 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 11,340 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Novavax in the first quarter worth about $99,000. Finally, Hsbc Holdings PLC increased its position in Novavax by 69.4% in the fourth quarter. Hsbc Holdings PLC now owns 17,931 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 7,344 shares in the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Novavax Price Performance

Shares of Novavax stock opened at $7.47 on Monday. The stock has a 50 day moving average of $7.40 and a 200 day moving average of $7.16. Novavax, Inc. has a 12 month low of $5.01 and a 12 month high of $15.22. The firm has a market cap of $1.21 billion, a PE ratio of 3.28, a PEG ratio of 0.10 and a beta of 2.68. The company has a current ratio of 2.36, a quick ratio of 2.34 and a debt-to-equity ratio of 5.93.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.69. Novavax had a negative return on equity of 142.33% and a net margin of 39.20%.The firm had revenue of $239.24 million for the quarter, compared to the consensus estimate of $149.19 million. During the same period in the prior year, the business posted $0.99 earnings per share. The company’s revenue for the quarter was down 42.4% on a year-over-year basis. On average, research analysts expect that Novavax, Inc. will post -1.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Bank of America restated an “underperform” rating and issued a $7.00 price target (down previously from $9.00) on shares of Novavax in a research report on Wednesday, August 20th. HC Wainwright started coverage on Novavax in a research note on Thursday. They issued a “buy” rating and a $10.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on Novavax from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Friday, May 9th. Citigroup started coverage on Novavax in a research note on Tuesday, June 17th. They issued a “sell” rating and a $6.00 price objective for the company. Finally, B. Riley reaffirmed a “buy” rating on shares of Novavax in a research note on Monday, May 19th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.29.

Novavax Company Profile

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.