Novavax Inc. (NVAX) Sees Large Drop in Short Interest
Novavax Inc. (NASDAQ:NVAX) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 63,380,696 shares, a drop of 1.9% from the August 31st total of 64,620,841 shares. Based on an average daily volume of 8,122,452 shares, the days-to-cover ratio is presently 7.8 days. Approximately 24.2% of the company’s stock are sold short.
Novavax (NASDAQ:NVAX) opened at 2.20 on Thursday. The stock has a 50 day moving average of $5.93 and a 200-day moving average of $6.06. Novavax has a one year low of $1.16 and a one year high of $9.23. The firm’s market capitalization is $595.83 million.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. The firm had revenue of $2.50 million for the quarter, compared to analyst estimates of $8.03 million. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. The business’s revenue was down 82.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. On average, equities analysts predict that Novavax will post ($1.09) EPS for the current year.
In other news, SVP John Trizzino purchased 46,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was bought at an average price of $2.17 per share, for a total transaction of $99,820.00. Following the completion of the purchase, the senior vice president now directly owns 85,564 shares of the company’s stock, valued at $185,673.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gail Boudreaux purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was purchased at an average price of $1.45 per share, with a total value of $145,000.00. Following the purchase, the director now directly owns 200,000 shares of the company’s stock, valued at $290,000. The disclosure for this purchase can be found here. 3.50% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of NVAX. Coldstream Capital Management Inc. raised its stake in Novavax by 17.5% in the second quarter. Coldstream Capital Management Inc. now owns 13,805 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,055 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in Novavax during the second quarter valued at about $102,000. Veritable L.P. purchased a new stake in Novavax during the second quarter valued at about $102,000. BlackRock Inc. raised its stake in Novavax by 138.7% in the first quarter. BlackRock Inc. now owns 19,870 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 11,547 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in Novavax during the first quarter valued at about $107,000. 79.84% of the stock is currently owned by institutional investors and hedge funds.
NVAX has been the subject of a number of recent research reports. Vetr downgraded shares of Novavax from a “buy” rating to a “hold” rating and set a $7.86 price target for the company. in a research note on Tuesday, August 9th. Piper Jaffray Cos. downgraded shares of Novavax from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $1.00 in a research note on Friday, September 16th. Citigroup Inc. downgraded shares of Novavax from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $12.00 to $1.50 in a research note on Friday, September 16th. Wedbush reiterated an “outperform” rating and issued a $14.00 price target on shares of Novavax in a research note on Thursday, June 2nd. Finally, FBR & Co set a $17.00 price target on shares of Novavax and gave the stock a “buy” rating in a research note on Thursday, August 11th. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $7.06.
Novavax, Inc (Novavax) is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company through its recombinant nanoparticle vaccine technology produces vaccine candidates to respond to both known and newly emerging diseases.
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