Gail Boudreaux Acquires 100,000 Shares of Novavax Inc. (NVAX) Stock
Novavax Inc. (NASDAQ:NVAX) Director Gail Boudreaux purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The stock was acquired at an average cost of $1.45 per share, with a total value of $145,000.00. Following the acquisition, the director now owns 200,000 shares in the company, valued at approximately $290,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Novavax Inc. (NASDAQ:NVAX) traded up 32.88% during mid-day trading on Wednesday, hitting $1.94. 95,325,085 shares of the stock traded hands. Novavax Inc. has a 12 month low of $1.16 and a 12 month high of $9.56. The stock has a 50-day moving average price of $6.69 and a 200-day moving average price of $6.16. The stock’s market cap is $525.42 million.
Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.04. The company had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $8.03 million. Novavax had a negative return on equity of 112.45% and a negative net margin of 1,405.84%. The firm’s revenue for the quarter was down 82.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. On average, equities analysts forecast that Novavax Inc. will post ($1.09) earnings per share for the current year.
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NVAX has been the subject of a number of analyst reports. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $14.00 price target on shares of Novavax in a report on Friday, September 9th. Vetr downgraded shares of Novavax from a “strong-buy” rating to a “buy” rating and set a $7.86 price target for the company. in a report on Monday, August 15th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Novavax in a report on Wednesday, July 27th. FBR & Co set a $17.00 price target on shares of Novavax and gave the company a “buy” rating in a report on Thursday, August 11th. Finally, Zacks Investment Research raised shares of Novavax from a “sell” rating to a “hold” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $7.06.
Hedge funds have recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted 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 worth $100,000 after buying an additional 2,055 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in Novavax during the second quarter worth approximately $102,000. Veritable L.P. bought a new stake in Novavax during the second quarter worth approximately $102,000. BlackRock Inc. boosted its stake in Novavax by 138.7% in the first quarter. BlackRock Inc. now owns 19,870 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 11,547 shares in the last quarter. Finally, Parametrica Management Ltd bought a new stake in Novavax during the first quarter worth approximately $107,000. 79.84% of the stock is owned by institutional investors and hedge funds.
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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