Novavax, Inc. (NVAX) Short Interest Update

Novavax, Inc. (NASDAQ:NVAX) saw a significant decrease in short interest in the month of September. As of September 29th, there was short interest totalling 47,385,568 shares, a decrease of 12.6% from the September 15th total of 54,225,598 shares. Currently, 16.3% of the company’s stock are short sold. Based on an average daily trading volume, of 4,572,248 shares, the short-interest ratio is currently 10.4 days.

Several brokerages have recently commented on NVAX. BidaskClub upgraded Novavax from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Zacks Investment Research upgraded Novavax from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Wednesday, August 16th. Seaport Global Securities reiterated a “neutral” rating on shares of Novavax in a report on Friday, October 6th. Piper Jaffray Companies reiterated a “hold” rating and set a $1.50 price objective on shares of Novavax in a report on Wednesday, July 26th. Finally, Ladenburg Thalmann Financial Services upgraded Novavax from a “neutral” rating to a “buy” rating and set a $1.60 price objective for the company in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $3.05.

In other news, Director James F. Young sold 175,000 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $1.06, for a total transaction of $185,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board lifted its position in Novavax by 287.7% in the second quarter. Canada Pension Plan Investment Board now owns 474,900 shares of the biopharmaceutical company’s stock valued at $546,000 after acquiring an additional 352,400 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in Novavax in the second quarter valued at $1,852,000. JPMorgan Chase & Co. lifted its position in Novavax by 41.9% in the first quarter. JPMorgan Chase & Co. now owns 3,708,105 shares of the biopharmaceutical company’s stock valued at $4,746,000 after acquiring an additional 1,095,388 shares during the last quarter. Creative Planning lifted its position in Novavax by 45.7% in the second quarter. Creative Planning now owns 472,198 shares of the biopharmaceutical company’s stock valued at $543,000 after acquiring an additional 148,139 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Novavax by 38.3% in the first quarter. Goldman Sachs Group Inc. now owns 728,790 shares of the biopharmaceutical company’s stock valued at $933,000 after acquiring an additional 201,795 shares during the last quarter. 45.17% of the stock is owned by hedge funds and other institutional investors.

Novavax (NVAX) opened at 1.18 on Friday. The company has a 50 day moving average price of $1.14 and a 200 day moving average price of $1.07. The firm’s market capitalization is $342.08 million. Novavax has a 52-week low of $0.73 and a 52-week high of $1.78.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.16). Novavax had a negative net margin of 1,006.00% and a negative return on equity of 787.38%. The firm had revenue of $6.70 million during the quarter, compared to analysts’ expectations of $6.15 million. During the same period in the previous year, the company earned ($0.29) earnings per share. Novavax’s quarterly revenue was up 168.0% compared to the same quarter last year. On average, equities analysts forecast that Novavax will post ($0.62) 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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