Novavax Inc. (NVAX) Stock Price Up 10.8% Following Insider Buying Activity
Shares of Novavax Inc. (NASDAQ:NVAX) were up 10.8% on Thursday following insider buying activity. The stock traded as high as $2.25 and last traded at $2.15, with a volume of 60,304,435 shares changing hands. The stock had previously closed at $1.94.
Specifically, Director Gail Boudreaux bought 100,000 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were acquired at an average cost of $1.45 per share, with a total value of $145,000.00. Following the acquisition, the director now directly owns 200,000 shares of the company’s stock, valued at approximately $290,000. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.50% of the stock is currently owned by insiders.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Novavax from a “sell” rating to a “hold” rating in a research note on Wednesday. Chardan Capital dropped their price objective on shares of Novavax from $5.75 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday. S&P Equity Research dropped their price objective on shares of Novavax from $1.44 to $1.17 in a research note on Friday, September 16th. Citigroup Inc. cut shares of Novavax from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $12.00 to $1.50 in a research note on Friday, September 16th. Finally, JPMorgan Chase & Co. cut shares of Novavax from an “overweight” rating to a “neutral” rating in a research note on Friday, September 16th. Seven investment 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 a consensus rating of “Hold” and an average target price of $7.06.
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The company has a 50 day moving average of $6.69 and a 200 day moving average of $6.16. The company’s market cap is $579.58 million.
Novavax (NASDAQ:NVAX) last announced its quarterly earnings data 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. Novavax had a negative return on equity of 112.45% and a negative net margin of 1,405.84%. The firm had revenue of $2.50 million for the quarter, compared to the consensus estimate of $8.03 million. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was down 82.1% compared to the same quarter last year. Equities research analysts predict that Novavax Inc. will post ($1.09) earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the company. Coldstream Capital Management Inc. boosted its position in shares of 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 during the period. Compagnie Lombard Odier SCmA purchased a new position in shares of Novavax during the second quarter valued at about $102,000. Veritable L.P. purchased a new position in shares of Novavax during the second quarter valued at about $102,000. BlackRock Inc. boosted its position in shares of 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 during the period. Finally, Parametrica Management Ltd purchased a new position in shares of Novavax during the first quarter valued at about $107,000. Hedge funds and other institutional investors own 79.84% of the company’s stock.
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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