Investors Purchase High Volume of Novavax Put Options (NASDAQ:NVAX)

Novavax, Inc. (NASDAQ:NVAX) was the target of some unusual options trading on Monday. Traders acquired 1,217 put options on the stock. This is an increase of 1,366% compared to the typical volume of 83 put options.

Shares of NVAX opened at $5.22 on Tuesday. The stock’s 50 day moving average is $4.34 and its two-hundred day moving average is $5.21. Novavax has a twelve month low of $3.54 and a twelve month high of $51.60. The firm has a market capitalization of $128.90 million, a PE ratio of -0.52 and a beta of 1.96.

Novavax (NASDAQ:NVAX) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.24. The business had revenue of $2.51 million for the quarter, compared to analysts’ expectations of $4.40 million. During the same period last year, the company posted ($2.40) earnings per share. On average, equities analysts predict that Novavax will post -5.7 EPS for the current fiscal year.

NVAX has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Novavax in a research report on Thursday, October 17th. B. Riley began coverage on Novavax in a research note on Wednesday, November 27th. They issued a “buy” rating and a $12.00 target price on the stock. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $27.50 target price on shares of Novavax in a report on Friday, November 8th. Oppenheimer cut their price target on Novavax from $25.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Finally, Citigroup decreased their price target on Novavax from $19.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.85.

In other news, insider Gregory M. Glenn sold 9,620 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.18, for a total transaction of $59,451.60. Following the completion of the sale, the insider now owns 123 shares in the company, valued at $760.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John A. Herrmann III sold 3,643 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $7.07, for a total value of $25,756.01. The disclosure for this sale can be found here. Insiders sold 22,770 shares of company stock valued at $132,123 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of NVAX. Rhumbline Advisers grew its holdings in Novavax by 10.3% during the third quarter. Rhumbline Advisers now owns 33,428 shares of the biopharmaceutical company’s stock worth $168,000 after acquiring an additional 3,118 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Novavax by 473.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,166 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 5,917 shares during the period. Creative Planning grew its stake in shares of Novavax by 16.5% during the 3rd quarter. Creative Planning now owns 92,344 shares of the biopharmaceutical company’s stock worth $464,000 after purchasing an additional 13,101 shares during the period. State Street Corp increased its holdings in shares of Novavax by 3.4% in the 3rd quarter. State Street Corp now owns 424,189 shares of the biopharmaceutical company’s stock valued at $2,129,000 after purchasing an additional 14,066 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Novavax in the 2nd quarter valued at about $197,000. Hedge funds and other institutional investors own 26.74% of the company’s stock.

Novavax Company Profile

Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.

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