Investors Sell Novavax Inc. (NVAX) on Strength (NVAX)
Investors sold shares of Novavax Inc. (NASDAQ:NVAX) on strength during trading hours on Friday. $4.81 million flowed into the stock on the tick-up and $16.71 million flowed out of the stock on the tick-down, for a money net flow of $11.90 million out of the stock. Of all companies tracked, Novavax had the 0th highest net out-flow for the day. Novavax traded up $0.01 for the day and closed at $7.56
A number of brokerages have commented on NVAX. Zacks Investment Research upgraded shares of Novavax from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. Chardan Capital reiterated a “neutral” rating on shares of Novavax in a research report on Monday, May 2nd. Vetr upgraded shares of Novavax from a “buy” rating to a “strong-buy” rating and set a $8.35 price target on the stock in a research report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and set a $14.00 price target on shares of Novavax in a research report on Thursday, June 2nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.21.
The firm’s market capitalization is $2.05 billion. The company has a 50 day moving average price of $6.86 and a 200 day moving average price of $5.76.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.27) by $0.02. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company earned $4.20 million during the quarter, compared to the consensus estimate of $10.39 million. The company’s quarterly revenue was down 57.6% compared to the same quarter last year. On average, equities research analysts expect that Novavax Inc. will post ($0.96) EPS for the current fiscal year.
In related news, Director Gary C. Evans sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $5.41, for a total value of $270,500.00. Following the transaction, the director now directly owns 357,111 shares of the company’s stock, valued at approximately $1,931,970.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gary C. Evans sold 18,998 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $6.50, for a total value of $123,487.00. Following the completion of the transaction, the director now directly owns 321,979 shares in the company, valued at $2,092,863.50. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of NVAX. Tekla Capital Management LLC acquired a new position in Novavax during the fourth quarter worth approximately $3,004,000. ProShare Advisors LLC boosted its position in Novavax by 10.4% in the fourth quarter. ProShare Advisors LLC now owns 266,138 shares of the biopharmaceutical company’s stock worth $2,233,000 after buying an additional 25,114 shares in the last quarter. California Public Employees Retirement System boosted its position in Novavax by 69.4% in the fourth quarter. California Public Employees Retirement System now owns 813,000 shares of the biopharmaceutical company’s stock worth $6,821,000 after buying an additional 333,000 shares in the last quarter. TD Asset Management Inc. boosted its position in Novavax by 7.5% in the fourth quarter. TD Asset Management Inc. now owns 576,800 shares of the biopharmaceutical company’s stock worth $4,839,000 after buying an additional 40,000 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Novavax by 12.6% in the fourth quarter. Rhumbline Advisers now owns 271,881 shares of the biopharmaceutical company’s stock worth $2,281,000 after buying an additional 30,395 shares in the last quarter.
Novavax, Inc (Novavax) 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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