Novavax (NVAX) Shares Up 5.1%
Novavax, Inc. (NASDAQ:NVAX)’s share price shot up 5.1% on Friday . The company traded as high as $1.48 and last traded at $1.43. 6,553,064 shares changed hands during trading, an increase of 10% from the average session volume of 5,968,580 shares. The stock had previously closed at $1.36.
A number of research firms have weighed in on NVAX. Zacks Investment Research upgraded Novavax from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a research note on Wednesday, August 16th. BidaskClub upgraded Novavax from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Seaport Global Securities reiterated a “neutral” rating on shares of Novavax in a research note on Friday, October 6th. Cantor Fitzgerald reiterated a “hold” rating and set a $2.00 price objective on shares of Novavax in a research note on Wednesday, November 8th. Finally, Ladenburg Thalmann Financial Services upgraded Novavax from a “neutral” rating to a “buy” rating and set a $1.60 price target for the company in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $3.12.
The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of -4.28.
In other Novavax news, insider Stanley C. Erck purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average price of $1.13 per share, for a total transaction of $113,000.00. Following the purchase, the insider now directly owns 228,279 shares in the company, valued at $257,955.27. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of Novavax by 49.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 89,697 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 29,800 shares in the last quarter. Profund Advisors LLC boosted its holdings in Novavax by 0.4% in the 2nd quarter. Profund Advisors LLC now owns 120,775 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 455 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Novavax by 18.6% in the 2nd quarter. Voya Investment Management LLC now owns 138,270 shares of the biopharmaceutical company’s stock worth $159,000 after buying an additional 21,639 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Novavax by 74.8% in the 3rd quarter. Brown Advisory Inc. now owns 162,700 shares of the biopharmaceutical company’s stock worth $185,000 after buying an additional 69,600 shares during the last quarter. Finally, State of Wisconsin Investment Board acquired a new stake in Novavax in the 2nd quarter worth about $230,000. Hedge funds and other institutional investors own 36.98% of the company’s stock.
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Novavax Company Profile
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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