Short Interest in Novavax Inc. (NVAX) Increases By 20.4%
Novavax Inc. (NASDAQ:NVAX) was the target of a large 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 daily trading volume, of 70,288,275 shares, the short-interest ratio is presently 1.1 days. Currently, 29.2% of the company’s stock are sold short.
Novavax (NASDAQ:NVAX) opened at 1.62 on Thursday. Novavax has a 12-month low of $1.16 and a 12-month high of $9.23. The company’s market capitalization is $438.75 million. The stock has a 50 day moving average price of $4.42 and a 200 day moving average price of $5.82.
Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.04. The firm 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 business’s revenue for the quarter was down 82.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.08) earnings per share. On average, analysts expect that Novavax will post ($1.09) EPS for the current year.
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A number of brokerages recently commented on NVAX. Chardan Capital decreased their target price 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 target price for the company in a research report on Wednesday, July 13th. Piper Jaffray Cos. lowered Novavax from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $14.00 to $1.00 in a research report on Friday, September 16th. Wedbush lowered Novavax from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $14.00 to $2.00 in a research report on Friday, September 16th. Finally, Ladenburg Thalmann lowered Novavax from a “buy” rating to a “neutral” rating in a 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 stock. The stock has an average rating of “Hold” and a consensus target price of $7.06.
In other news, SVP John Trizzino bought 46,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was acquired at an average cost of $2.17 per share, with a total value of $99,820.00. Following the transaction, the senior vice president now directly owns 85,564 shares of the company’s stock, valued at approximately $185,673.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gail Boudreaux bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was 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 in the company, valued at $290,000. The disclosure for this purchase can be found here. 3.50% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of NVAX. IFP Advisors Inc raised its stake in Novavax by 18.4% in the second quarter. IFP Advisors Inc now owns 33,500 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 5,204 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Novavax by 4.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 959,708 shares of the biopharmaceutical company’s stock valued at $6,978,000 after buying an additional 36,684 shares during the period. Stifel Financial Corp raised its stake in shares of Novavax by 1.9% in the second quarter. Stifel Financial Corp now owns 21,990 shares of the biopharmaceutical company’s stock valued at $160,000 after buying an additional 400 shares during the period. Amalgamated Bank raised its stake in shares of Novavax by 1.1% in the second quarter. Amalgamated Bank now owns 28,525 shares of the biopharmaceutical company’s stock valued at $196,000 after buying an additional 300 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Novavax by 16.0% in the second quarter. Legal & General Group Plc now owns 70,431 shares of the biopharmaceutical company’s stock valued at $510,000 after buying an additional 9,694 shares during the period. 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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