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

Entropy Technologies LP acquired a new stake in Novavax, Inc. (NASDAQ:NVAX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,499 shares of the biopharmaceutical company’s stock, valued at approximately $158,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Swedbank AB purchased a new stake in shares of Novavax in the 1st quarter valued at approximately $26,000. Banque Cantonale Vaudoise raised its position in Novavax by 500.0% in the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,500 shares during the period. Herr Investment Group LLC acquired a new position in Novavax during the first quarter worth $48,000. Alpine Global Management LLC purchased a new position in shares of Novavax during the first quarter worth $49,000. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Novavax by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 2,711 shares in the last quarter. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVAX has been the topic of several research reports. Jefferies Financial Group decreased their target price on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Finally, B. Riley reiterated a “buy” rating and set a $26.00 target price (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.83.

Novavax Stock Performance

Shares of Novavax stock opened at $7.32 on Monday. The business has a 50-day simple moving average of $11.26 and a 200-day simple moving average of $12.45. Novavax, Inc. has a one year low of $3.53 and a one year high of $23.86. The company has a market cap of $1.17 billion, a PE ratio of -3.24 and a beta of 2.10.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.07. The firm had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. During the same quarter last year, the firm earned ($1.26) EPS. The company’s revenue was down 54.8% on a year-over-year basis. On average, sell-side analysts predict 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.