Novavax, Inc. (NASDAQ:NVAX) Sees Significant Decline in Short Interest
Novavax, Inc. (NASDAQ:NVAX) was the recipient of a large decline in short interest in the month of July. As of July 14th, there was short interest totalling 54,638,918 shares, a decline of 3.9% from the June 30th total of 56,851,825 shares. Approximately 19.6% of the shares of the company are sold short. Based on an average trading volume of 2,809,930 shares, the short-interest ratio is currently 19.4 days.
In related news, insider Stanley C. Erck purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were purchased at an average price of $0.84 per share, for a total transaction of $42,000.00. Following the transaction, the insider now directly owns 128,279 shares of the company’s stock, valued at approximately $107,754.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 105,000 shares of company stock worth $90,800 in the last 90 days. 4.00% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of NVAX. Creative Planning boosted its stake in shares of Novavax by 45.7% in the second quarter. Creative Planning now owns 472,198 shares of the biopharmaceutical company’s stock worth $543,000 after buying an additional 148,139 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Novavax by 38.3% in the first quarter. Goldman Sachs Group Inc. now owns 728,790 shares of the biopharmaceutical company’s stock worth $933,000 after buying an additional 201,795 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Novavax by 3.8% in the first quarter. HighTower Advisors LLC now owns 142,000 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 5,250 shares during the last quarter. Credit Suisse AG boosted its stake in shares of Novavax by 37.1% in the first quarter. Credit Suisse AG now owns 1,519,495 shares of the biopharmaceutical company’s stock worth $1,945,000 after buying an additional 411,371 shares during the last quarter. Finally, KCG Holdings Inc. boosted its stake in shares of Novavax by 161.0% in the first quarter. KCG Holdings Inc. now owns 178,797 shares of the biopharmaceutical company’s stock worth $229,000 after buying an additional 110,292 shares during the last quarter. Hedge funds and other institutional investors own 50.04% of the company’s stock.
NVAX has been the topic of several recent research reports. Zacks Investment Research upgraded Novavax from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research report on Saturday, June 10th. Cantor Fitzgerald set a $2.00 price target on Novavax and gave the company a “hold” rating in a research report on Monday, May 8th. Piper Jaffray Companies restated a “hold” rating and issued a $1.50 price target on shares of Novavax in a research report on Wednesday. BidaskClub raised Novavax from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Chardan Capital reaffirmed a “neutral” rating and issued a $1.50 price objective on shares of Novavax in a report on Thursday. One analyst has rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $5.61.
Shares of Novavax (NASDAQ:NVAX) opened at 1.02 on Friday. Novavax has a 52 week low of $0.73 and a 52 week high of $8.49. The stock’s market cap is $288.25 million. The stock’s 50 day moving average price is $1.18 and its 200 day moving average price is $1.18.
Novavax (NASDAQ:NVAX) last issued its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.02. The firm had revenue of $5.68 million during the quarter, compared to analysts’ expectations of $6.17 million. Novavax had a negative net margin of 1,466.36% and a negative return on equity of 787.38%. The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.29) earnings per share. Equities research analysts anticipate that Novavax will post ($0.61) EPS for the current fiscal year.
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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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