Novavax (NVAX) Shares Gap Up to $1.38

Novavax, Inc. (NASDAQ:NVAX) gapped up prior to trading on Tuesday . The stock had previously closed at $1.35, but opened at $1.38. Novavax shares last traded at $1.49, with a volume of 9028000 shares trading hands.

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $2.00 price objective on shares of Novavax in a research report on Monday. BidaskClub lowered shares of Novavax from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Zacks Investment Research lowered shares of Novavax from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. Citigroup lowered shares of Novavax from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Novavax in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $3.12.

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

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. Novavax had a negative net margin of 726.35% and a negative return on equity of 787.38%. The firm had revenue of $8.35 million for the quarter, compared to analyst estimates of $6.42 million. During the same period in the previous year, the business earned ($0.24) EPS. The company’s revenue was up 158.5% compared to the same quarter last year. research analysts forecast that Novavax, Inc. will post -0.62 earnings per share for the current year.

In other news, insider Stanley C. Erck acquired 100,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were bought at an average cost of $1.13 per share, for a total transaction of $113,000.00. Following the purchase, the insider now directly owns 228,279 shares of the company’s stock, valued at $257,955.27. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. increased its stake in shares of Novavax by 74.8% during the 3rd quarter. Brown Advisory Inc. now owns 162,700 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 69,600 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Novavax by 6.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,225,018 shares of the biopharmaceutical company’s stock worth $1,397,000 after purchasing an additional 71,047 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Novavax by 30.8% during the 3rd quarter. Wells Fargo & Company MN now owns 446,831 shares of the biopharmaceutical company’s stock worth $509,000 after purchasing an additional 105,117 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Novavax by 19.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 567,800 shares of the biopharmaceutical company’s stock worth $647,000 after purchasing an additional 92,900 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Novavax by 49.8% during the 2nd 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. Institutional investors own 36.78% of the company’s stock.

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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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