Invesco Ltd. Has $1.82 Million Position in Novavax, Inc. $NVAX

Key Points

• Invesco Ltd. increased its stake in Novavax, Inc. by 84.0%, owning 284,122 shares worth $1.82 million after acquiring an additional 129,697 shares in the first quarter.
• Novavax reported a revenue of $239.24 million for its latest quarter, significantly exceeding the consensus estimate of $149.19 million, despite a 42.4% year-over-year decline.
• Wall Street analysts have mixed ratings for Novavax, with a consensus target price of $14.29 and varying opinions ranging from "buy" to "sell."

Invesco Ltd. raised its stake in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) by 84.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 284,122 shares of the biopharmaceutical company's stock after purchasing an additional 129,697 shares during the period. Invesco Ltd. owned 0.18% of Novavax worth $1,821,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new stake in shares of Novavax in the fourth quarter valued at approximately $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Novavax in the first quarter valued at approximately $71,000. GAMMA Investing LLC boosted its position in shares of Novavax by 2,272.5% in the first quarter. GAMMA Investing LLC now owns 11,839 shares of the biopharmaceutical company's stock valued at $76,000 after acquiring an additional 11,340 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Novavax in the first quarter valued at approximately $99,000. Finally, Hsbc Holdings PLC boosted its position in shares of Novavax by 69.4% in the fourth quarter. Hsbc Holdings PLC now owns 17,931 shares of the biopharmaceutical company's stock valued at $144,000 after acquiring an additional 7,344 shares during the period. 53.04% of the stock is owned by institutional investors.

Novavax Stock Performance

NVAX stock traded up $0.18 during midday trading on Thursday, hitting $7.58. The stock had a trading volume of 3,446,991 shares, compared to its average volume of 6,745,974. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 3.33, a P/E/G ratio of 0.10 and a beta of 2.68. Novavax, Inc. has a 52 week low of $5.01 and a 52 week high of $15.22. The stock has a 50-day simple moving average of $7.47 and a 200 day simple moving average of $7.16. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $149.19 million. During the same period in the prior year, the company posted $0.99 earnings per share. The business's revenue for the quarter was down 42.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Novavax, Inc. will post -1.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVAX. JPMorgan Chase & Co. reduced their price objective on Novavax from $9.00 to $7.00 and set an "underweight" rating for the company in a research report on Friday, May 9th. HC Wainwright began coverage on Novavax in a research report on Thursday, August 28th. They issued a "buy" rating and a $10.00 price objective for the company. Citigroup started coverage on Novavax in a research report on Tuesday, June 17th. They issued a "sell" rating and a $6.00 price objective for the company. Bank of America reaffirmed an "underperform" rating and issued a $7.00 target price (down from $9.00) on shares of Novavax in a research report on Wednesday, August 20th. Finally, B. Riley reaffirmed a "buy" rating on shares of Novavax in a research report on Monday, May 19th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Novavax currently has a consensus rating of "Hold" and an average target price of $14.29.

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.