OMERS ADMINISTRATION Corp Invests $1.28 Million in Novavax, Inc. $NVAX

Key Points

• OMERS ADMINISTRATION Corp acquired a new stake in Novavax, Inc., purchasing 199,100 shares valued at approximately $1.28 million in the first quarter.
• Despite the recent stake, analysts have mixed opinions on Novavax, with price targets ranging from $6.00 to $10.00 and several firms rating the stock as "sell" or "underperform."
• Novavax reported earnings of $0.62 per share for the last quarter, exceeding estimates, but with a 42.4% year-over-year decline in revenue.

OMERS ADMINISTRATION Corp bought a new position in shares of Novavax, Inc. (NASDAQ:NVAX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 199,100 shares of the biopharmaceutical company's stock, valued at approximately $1,276,000. OMERS ADMINISTRATION Corp owned approximately 0.12% of Novavax at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Novavax by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 33,169 shares of the biopharmaceutical company's stock worth $213,000 after acquiring an additional 2,780 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Novavax in the 4th quarter valued at about $27,000. Monaco Asset Management SAM boosted its holdings in shares of Novavax by 1.8% in the 1st quarter. Monaco Asset Management SAM now owns 290,000 shares of the biopharmaceutical company's stock valued at $1,859,000 after buying an additional 5,000 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Novavax by 11.1% in the 1st quarter. Federated Hermes Inc. now owns 56,124 shares of the biopharmaceutical company's stock valued at $360,000 after buying an additional 5,618 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Novavax by 3.3% in the 1st quarter. Rhumbline Advisers now owns 215,413 shares of the biopharmaceutical company's stock valued at $1,381,000 after buying an additional 6,949 shares in the last quarter. 53.04% of the stock is currently owned by institutional investors.

Novavax Trading Up 5.3%

Shares of NVAX stock traded up $0.39 on Thursday, hitting $7.79. 7,357,283 shares of the stock traded hands, compared to its average volume of 6,770,747. The firm's 50-day moving average price is $7.47 and its two-hundred day moving average price is $7.16. The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.34 and a current ratio of 2.36. The stock has a market capitalization of $1.27 billion, a PE ratio of 3.42, a PEG ratio of 0.10 and a beta of 2.68. Novavax, Inc. has a twelve month low of $5.01 and a twelve month high of $15.22.

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

Analyst Ratings Changes

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

Novavax 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.