Entropy Technologies LP Purchases New Position in Novavax, Inc. (NASDAQ:NVAX)

Entropy Technologies LP acquired a new position in shares of Novavax, Inc. (NASDAQ:NVAX) during the third quarter, HoldingsChannel reports. The institutional investor acquired 12,499 shares of the biopharmaceutical company’s stock, valued at approximately $158,000.

Several other institutional investors have also modified their holdings of the stock. Swiss National Bank raised its stake in Novavax by 17.1% during the 1st quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock worth $1,009,000 after acquiring an additional 30,800 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Novavax by 29.9% during the first quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 8,570 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Novavax by 236.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 83,613 shares of the biopharmaceutical company’s stock valued at $400,000 after purchasing an additional 58,746 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 2,447 shares during the period. Finally, Ameritas Investment Partners Inc. grew its stake in Novavax by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 2,711 shares during the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. B. Riley reiterated a “buy” rating and set a $26.00 price target (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. HC Wainwright restated a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group decreased their target price on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.83.

Novavax Stock Performance

NVAX stock opened at $7.32 on Monday. The stock has a market capitalization of $1.17 billion, a PE ratio of -3.24 and a beta of 2.10. The company has a fifty day moving average of $11.26 and a 200-day moving average of $12.45. Novavax, Inc. has a one year low of $3.53 and a one year high of $23.86.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. The business had revenue of $84.51 million during the quarter, compared to analysts’ expectations of $65.80 million. Novavax’s revenue for the quarter was down 54.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.26) EPS. Equities analysts forecast that Novavax, Inc. will post -1.21 earnings per share for the current fiscal year.

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.