Short Interest in Novavax, Inc. (NVAX) Declines By 10.2%

Novavax, Inc. (NASDAQ:NVAX) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 40,037,310 shares, a decrease of 10.2% from the October 13th total of 44,569,528 shares. Currently, 13.8% of the company’s stock are short sold. Based on an average trading volume of 3,915,223 shares, the days-to-cover ratio is currently 10.2 days.

Several equities research analysts have recently commented on the company. BidaskClub upgraded Novavax from a “sell” rating to a “hold” rating in a research note 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 research note on Wednesday, August 16th. Cantor Fitzgerald restated a “hold” rating and issued a $2.00 price objective on shares of Novavax in a research note on Wednesday, November 8th. Piper Jaffray Companies restated a “hold” rating and issued a $1.50 price objective on shares of Novavax in a research note on Wednesday, July 26th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Novavax in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $3.12.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brown Advisory Inc. boosted its holdings 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 valued at $185,000 after purchasing an additional 69,600 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings 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 valued at $1,397,000 after purchasing an additional 71,047 shares during the last quarter. Wells Fargo & Company MN boosted its holdings 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 valued at $509,000 after purchasing an additional 105,117 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings 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 valued at $647,000 after purchasing an additional 92,900 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings 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 valued at $103,000 after purchasing an additional 29,800 shares during the last quarter. 38.87% of the stock is owned by institutional investors and hedge funds.

Novavax (NASDAQ:NVAX) opened at $1.19 on Wednesday. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of -4.28. Novavax has a 1-year low of $0.73 and a 1-year high of $1.78.

Novavax (NASDAQ:NVAX) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, topping 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 company had revenue of $8.35 million during the quarter, compared to the consensus estimate of $6.42 million. During the same quarter in the prior year, the firm posted ($0.24) EPS. Novavax’s quarterly revenue was up 158.5% compared to the same quarter last year. equities research analysts expect that Novavax will post -0.61 EPS for the current fiscal year.

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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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