Novavax, Inc. (NVAX) Shares Gap Up to $1.29

Novavax, Inc. (NASDAQ:NVAX) shares gapped up prior to trading on Tuesday . The stock had previously closed at $1.26, but opened at $1.29. Novavax shares last traded at $1.36, with a volume of 5365200 shares changing hands.

A number of research firms have commented on NVAX. 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 note on Wednesday, August 16th. BidaskClub upgraded Novavax from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Seaport Global Securities restated a “neutral” rating on shares of Novavax in a research note on Friday, October 6th. Chardan Capital restated a “neutral” rating and set a $1.50 price target on shares of Novavax in a research note on Thursday, July 27th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $1.50 price target on shares of Novavax in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $3.12.

The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of -4.28.

Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. The business had revenue of $8.35 million during the quarter, compared to analysts’ expectations of $6.42 million. The business’s quarterly revenue was up 158.5% compared to the same quarter last year. During the same period last year, the company earned ($0.24) EPS. sell-side analysts anticipate that Novavax, Inc. will post -0.62 EPS for the current fiscal year.

In other news, insider Stanley C. Erck acquired 100,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were bought at an average price of $1.13 per share, with a total value of $113,000.00. Following the completion of the acquisition, the insider now owns 228,279 shares in the company, valued at approximately $257,955.27. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James F. Young sold 175,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $1.06, for a total value of $185,500.00. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Novavax by 49.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 89,697 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 29,800 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Novavax by 0.4% during the second quarter. Profund Advisors LLC now owns 120,775 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 455 shares during the period. Voya Investment Management LLC boosted its stake in shares of Novavax by 18.6% during the second quarter. Voya Investment Management LLC now owns 138,270 shares of the biopharmaceutical company’s stock worth $159,000 after buying an additional 21,639 shares during the period. HighTower Advisors LLC boosted its stake in shares of Novavax by 3.8% during 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 period. Finally, Brown Advisory Inc. boosted its stake in shares of Novavax by 74.8% during the third quarter. Brown Advisory Inc. now owns 162,700 shares of the biopharmaceutical company’s stock worth $185,000 after buying an additional 69,600 shares during the period. 37.67% of the stock is currently owned by institutional investors.

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About Novavax

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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