Short Interest in Novavax Inc. (NVAX) Increases By 20.4%
Novavax Inc. (NASDAQ:NVAX) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 76,312,172 shares, a growth of 20.4% from the September 15th total of 63,380,696 shares. Based on an average trading volume of 70,288,275 shares, the days-to-cover ratio is presently 1.1 days. Approximately 29.2% of the company’s shares are short sold.
Several research analysts have recently weighed in on the company. Chardan Capital reduced their price objective on Novavax from $5.75 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday, September 20th. Vetr raised Novavax from a “buy” rating to a “strong-buy” rating and set a $8.35 price objective for the company in a research report on Wednesday, July 13th. Piper Jaffray Cos. cut Novavax from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $1.00 in a research report on Friday, September 16th. Wedbush cut Novavax from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $2.00 in a research report on Friday, September 16th. Finally, Ladenburg Thalmann cut Novavax from a “buy” rating to a “neutral” rating in a research report on Friday, September 16th. Seven equities 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. Novavax presently has an average rating of “Hold” and an average target price of $7.06.
In other news, SVP John Trizzino acquired 46,000 shares of Novavax stock in a transaction dated Thursday, September 22nd. The stock was bought at an average cost of $2.17 per share, with a total value of $99,820.00. Following the completion of the transaction, the senior vice president now directly owns 85,564 shares of the company’s stock, valued at $185,673.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gail Boudreaux acquired 100,000 shares of Novavax stock in a transaction dated Tuesday, September 20th. The shares were purchased at an average cost of $1.45 per share, with a total value of $145,000.00. Following the completion of the transaction, 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 owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock valued at $65,593,000 after buying an additional 3,849,585 shares during the period. State Street Corp raised its stake in shares of Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock worth $63,579,000 after buying an additional 3,527,714 shares during the last quarter. Deerfield Management Co. purchased a new stake in shares of Novavax during the first quarter worth approximately $12,674,000. Franklin Resources Inc. raised its stake in shares of Novavax by 71.8% in the first quarter. Franklin Resources Inc. now owns 5,226,565 shares of the biopharmaceutical company’s stock worth $26,969,000 after buying an additional 2,183,700 shares during the last quarter. Finally, Janus Capital Management LLC raised its stake in shares of Novavax by 40.3% in the second quarter. Janus Capital Management LLC now owns 7,441,710 shares of the biopharmaceutical company’s stock worth $54,100,000 after buying an additional 2,136,258 shares during the last quarter. 79.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Novavax (NASDAQ:NVAX) opened at 1.62 on Thursday. The firm has a 50-day moving average price of $4.42 and a 200 day moving average price of $5.82. Novavax has a 1-year low of $1.16 and a 1-year high of $9.23. The company’s market cap is $438.75 million.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. Novavax had a negative return on equity of 112.45% and a negative net margin of 1,405.84%. The business earned $2.50 million during the quarter, compared to the consensus estimate of $8.03 million. During the same period last year, the business posted ($0.08) earnings per share. The business’s revenue was down 82.1% on a year-over-year basis. On average, analysts predict that Novavax will post ($1.09) EPS for the current fiscal year.
Novavax Company Profile
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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