Nuveen LLC Makes New Investment in Novavax, Inc. $NVAX

Key Points

• Nuveen LLC has acquired a new position in Novavax, Inc., purchasing 392,670 shares valued at approximately $2.5 million, indicating growing institutional interest in the biopharmaceutical company.
• Current analyst ratings reflect mixed sentiments, with four analysts giving a Buy rating and three assigning a Sell rating, while the average target price stands at $14.29.
• Novavax reported impressive earnings, with an EPS of $0.62 for the quarter, significantly exceeding analysts' expectations, although its revenue has decreased by 42.4% compared to the previous year.

Nuveen LLC acquired a new stake in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 392,670 shares of the biopharmaceutical company's stock, valued at approximately $2,517,000. Nuveen LLC owned approximately 0.24% of Novavax as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NVAX. GF Fund Management CO. LTD. bought a new position in shares of Novavax during the 4th quarter valued at approximately $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Novavax during the 1st quarter valued at $71,000. GAMMA Investing LLC increased its position in shares of Novavax by 2,272.5% in the 1st 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 acquired a new position in Novavax in the 1st quarter worth approximately $99,000. Finally, Hsbc Holdings PLC raised its stake in shares of Novavax by 69.4% during the 4th quarter. Hsbc Holdings PLC now owns 17,931 shares of the biopharmaceutical company's stock valued at $144,000 after buying an additional 7,344 shares during the last quarter. Institutional investors own 53.04% of the company's stock.

Wall Street Analysts Forecast Growth

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

Novavax Stock Down 0.3%

Shares of Novavax stock traded down $0.03 during trading hours on Wednesday, hitting $7.53. 2,392,235 shares of the company's stock traded hands, compared to its average volume of 6,757,243. The company has a quick ratio of 2.34, a current ratio of 2.36 and a debt-to-equity ratio of 5.93. Novavax, Inc. has a twelve month low of $5.01 and a twelve month high of $15.22. The stock has a 50 day simple moving average of $7.45 and a 200-day simple moving average of $7.16. The company has a market cap of $1.22 billion, a PE ratio of 3.30, a PEG ratio of 0.10 and a beta of 2.68.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.69. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. The company had revenue of $239.24 million for the quarter, compared to analyst estimates of $149.19 million. During the same quarter last year, the business earned $0.99 earnings per share. Novavax's revenue was down 42.4% compared to the same quarter last year. Equities research analysts anticipate that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

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.