Novavax, Inc. (NVAX) Sees Large Decrease in Short Interest
Novavax, Inc. (NASDAQ:NVAX) was the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 53,364,892 shares, a decline of 3.9% from the July 31st total of 55,513,144 shares. Based on an average daily volume of 4,961,892 shares, the short-interest ratio is presently 10.8 days. Approximately 19.2% of the shares of the stock are short sold.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut Novavax from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. BidaskClub cut Novavax from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Ladenburg Thalmann Financial Services upgraded Novavax from a “neutral” rating to a “buy” rating and set a $1.60 target price on the stock in a report on Wednesday, August 9th. Chardan Capital restated a “neutral” rating and set a $1.50 target price on shares of Novavax in a report on Thursday, July 27th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $1.50 target price on shares of Novavax in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $4.90.
Novavax (NASDAQ:NVAX) opened at 1.06 on Friday. Novavax has a 12-month low of $0.73 and a 12-month high of $8.49. The company has a 50-day moving average price of $1.11 and a 200-day moving average price of $1.13. The firm’s market capitalization is $307.29 million.
Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.16). Novavax had a negative net margin of 1,006.00% and a negative return on equity of 787.38%. The business had revenue of $6.70 million for the quarter, compared to analyst estimates of $6.15 million. During the same quarter in the previous year, the business earned ($0.29) earnings per share. The firm’s revenue was up 168.0% compared to the same quarter last year. On average, analysts predict that Novavax will post ($0.62) earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Novavax by 4.5% in the first quarter. Vanguard Group Inc. now owns 21,681,318 shares of the biopharmaceutical company’s stock worth $27,752,000 after buying an additional 938,581 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Novavax by 40.1% in the second quarter. JPMorgan Chase & Co. now owns 5,196,508 shares of the biopharmaceutical company’s stock worth $5,976,000 after buying an additional 1,488,403 shares in the last quarter. Northern Trust Corp raised its stake in Novavax by 2.8% in the second quarter. Northern Trust Corp now owns 3,376,714 shares of the biopharmaceutical company’s stock worth $3,883,000 after buying an additional 92,854 shares in the last quarter. Norges Bank purchased a new stake in Novavax during the fourth quarter worth about $3,300,000. Finally, Geode Capital Management LLC raised its stake in Novavax by 18.3% in the first quarter. Geode Capital Management LLC now owns 2,400,960 shares of the biopharmaceutical company’s stock worth $3,073,000 after buying an additional 371,295 shares in the last quarter. Institutional investors and hedge funds own 50.49% of the company’s stock.
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Novavax, Inc 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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