Wealth Enhancement Advisory Services LLC Invests $73,000 in Novavax, Inc. $NVAX

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Novavax, Inc. (NASDAQ:NVAX) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,695 shares of the biopharmaceutical company’s stock, valued at approximately $73,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Novavax by 3.3% during the 1st quarter. Rhumbline Advisers now owns 215,413 shares of the biopharmaceutical company’s stock worth $1,381,000 after acquiring an additional 6,949 shares in the last quarter. Strs Ohio acquired a new stake in shares of Novavax in the 1st quarter valued at about $167,000. Bayforest Capital Ltd acquired a new stake in shares of Novavax in the 1st quarter valued at about $404,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Novavax by 16.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 312,789 shares of the biopharmaceutical company’s stock valued at $2,005,000 after purchasing an additional 44,105 shares during the period. Finally, Caxton Associates LLP acquired a new stake in shares of Novavax in the 1st quarter valued at about $158,000. 53.04% of the stock is owned by institutional investors and hedge funds.

Novavax Stock Performance

Shares of NVAX opened at $8.33 on Monday. The company has a current ratio of 2.36, a quick ratio of 2.34 and a debt-to-equity ratio of 5.93. The stock has a market cap of $1.35 billion, a P/E ratio of 3.65, a PEG ratio of 0.11 and a beta of 2.74. The company has a 50-day moving average of $8.34 and a two-hundred day moving average of $7.28. Novavax, Inc. has a 12-month low of $5.01 and a 12-month high of $13.34.

Novavax (NASDAQ:NVAX) last announced its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.69. The company had revenue of $239.24 million during 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 firm’s quarterly revenue was down 42.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 earnings per share. As a group, research analysts predict that Novavax, Inc. will post -1.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVAX. Weiss Ratings reissued a “sell (d+)” rating on shares of Novavax in a research report on Wednesday, October 8th. Bank of America reaffirmed an “underperform” rating and set a $7.00 price objective (down from $9.00) on shares of Novavax in a research note on Wednesday, August 20th. Citigroup started coverage on Novavax in a research note on Tuesday, June 17th. They set a “sell” rating and a $6.00 target price for the company. Finally, HC Wainwright started coverage on Novavax in a research note on Thursday, August 28th. They issued a “buy” rating and a $10.00 price objective for the company. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.33.

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.