Todays Report: Today: Novavax Inc. (NVAX) Short Interest Down 2.1% in November

Today: Novavax Inc. (NVAX) Short Interest Down 2.1% in November

Novavax Inc. (NASDAQ:NVAX) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 64,231,138 shares, a drop of 2.1% from the October 31st total of 65,587,792 shares. Based on an average daily volume of 11,745,677 shares, the days-to-cover ratio is presently 5.5 days. Currently, 24.5% of the company’s shares are sold short.

A number of brokerages recently commented on NVAX. Chardan Capital decreased their target price on shares of Novavax from $5.75 to $1.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 20th. Piper Jaffray Cos. cut shares of Novavax from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $1.00 in a research report on Friday, September 16th. JPMorgan Chase & Co. restated a “hold” rating on shares of Novavax in a research report on Thursday, November 10th. Wedbush cut shares of Novavax from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $14.00 to $2.00 in a research report on Friday, September 16th. Finally, Ladenburg Thalmann cut shares of Novavax from a “buy” rating to a “neutral” rating in a research report on Friday, September 16th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Novavax has a consensus rating of “Buy” and a consensus price target of $6.58.

Novavax (NASDAQ:NVAX) opened at 1.31 on Monday. The stock’s market cap is $355.26 million. The company’s 50 day moving average is $1.48 and its 200 day moving average is $4.97. Novavax has a 12 month low of $1.16 and a 12 month high of $9.23.

Novavax (NASDAQ:NVAX) last issued its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.02. Novavax had a negative net margin of 1,908.41% and a negative return on equity of 189.14%. The firm earned $3.20 million during the quarter, compared to analyst estimates of $4.02 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. Novavax’s revenue for the quarter was down 50.8% on a year-over-year basis. On average, analysts anticipate that Novavax will post ($1.05) EPS for the current fiscal year.

In other Novavax news, SVP John Trizzino bought 46,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were bought at an average price of $2.17 per share, for a total transaction of $99,820.00. Following the transaction, the senior vice president now directly owns 85,564 shares in the company, valued at $185,673.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 acquired at an average price of $1.45 per share, for a total transaction of $145,000.00. Following the transaction, the director now 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 currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. raised its position in 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. Principal Financial Group Inc. raised its position in Novavax by 1.1% in the third quarter. Principal Financial Group Inc. now owns 48,096 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 536 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in Novavax during the second quarter valued at approximately $102,000. Veritable L.P. acquired a new position in Novavax during the second quarter valued at approximately $102,000. Finally, Geduld E E acquired a new position in Novavax during the third quarter valued at approximately $104,000. Institutional investors and hedge funds own 75.34% of the company’s stock.

Novavax Company Profile

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