Entropy Technologies LP Invests $191,000 in Novavax, Inc. (NASDAQ:NVAX)

Key Points

• Entropy Technologies LP has invested approximately $191,000 in Novavax, acquiring nearly 30,000 shares, indicating institutional confidence in the biopharmaceutical company.
• Novavax reported a surprising earnings per share (EPS) of $0.62 for the most recent quarter, significantly exceeding analysts' expectations, although revenue showed a decline of 42.4% year-over-year.
• Despite a mixed outlook from analysts with a consensus rating of "Hold", Novavax's stock has a wide target price range, suggesting potential for future growth amid recent challenges.

Entropy Technologies LP acquired a new position in Novavax, Inc. (NASDAQ:NVAX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,739 shares of the biopharmaceutical company's stock, valued at approximately $191,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Federated Hermes Inc. raised its stake in shares of Novavax by 4.4% in the fourth quarter. Federated Hermes Inc. now owns 50,506 shares of the biopharmaceutical company's stock worth $406,000 after purchasing an additional 2,124 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Novavax by 16.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 16,126 shares of the biopharmaceutical company's stock valued at $130,000 after acquiring an additional 2,287 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Novavax by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 33,169 shares of the biopharmaceutical company's stock valued at $213,000 after acquiring an additional 2,780 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Novavax during the fourth quarter valued at approximately $27,000. Finally, Monaco Asset Management SAM increased its position in shares of Novavax by 1.8% during the first quarter. Monaco Asset Management SAM now owns 290,000 shares of the biopharmaceutical company's stock valued at $1,859,000 after acquiring an additional 5,000 shares during the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Price Performance

Novavax stock opened at $9.58 on Friday. Novavax, Inc. has a one year low of $5.01 and a one year high of $15.22. The business has a fifty day moving average price of $7.15 and a 200-day moving average price of $7.19. The company has a debt-to-equity ratio of 5.93, a current ratio of 2.36 and a quick ratio of 2.34. The firm has a market capitalization of $1.56 billion, a P/E ratio of 4.20, a PEG ratio of 0.11 and a beta of 2.50.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $149.19 million. During the same period last year, the company earned $0.99 earnings per share. The business's revenue for the quarter was down 42.4% on a year-over-year basis. As a group, equities research analysts forecast that Novavax, Inc. will post -1.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on Novavax from $9.00 to $7.00 and set an "underweight" rating for the company in a research report on Friday, May 9th. B. Riley reaffirmed a "buy" rating on shares of Novavax in a research report on Monday, May 19th. Citigroup initiated coverage on Novavax in a research report on Tuesday, June 17th. They set a "sell" rating and a $6.00 price target for the company. Finally, Bank of America reduced their price objective on Novavax from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Novavax has a consensus rating of "Hold" and an average target price of $15.86.

About Novavax

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.

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