Novavax Inc. (NVAX) Sees Unusually-High Trading Volume on Insider Buying Activity
Novavax Inc. (NASDAQ:NVAX) shares saw unusually-high trading volume on Friday after an insider bought additional shares in the company. Approximately 52,497,575 shares traded hands during mid-day trading, an increase of 47% from the previous session’s volume of 35,613,306 shares.The stock last traded at $2.32 and had previously closed at $2.15.
Specifically, Director Michael A. Mcmanus, Jr. acquired 30,000 shares of Novavax stock in a transaction on Wednesday, September 21st. The stock was purchased at an average price of $1.61 per share, for a total transaction of $48,300.00. Following the purchase, the director now directly owns 247,590 shares of the company’s stock, valued at $398,619.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gail Boudreaux acquired 100,000 shares of Novavax stock in a transaction on Tuesday, September 20th. The stock was acquired at an average price of $1.45 per share, with a total value of $145,000.00. Following the purchase, the director now directly 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 owned by corporate insiders.
A number of research analysts have issued reports on NVAX shares. Piper Jaffray Cos. restated an “overweight” rating and issued a $14.00 price objective on shares of Novavax in a research note on Friday, September 9th. Vetr downgraded Novavax from a “strong-buy” rating to a “buy” rating and set a $7.86 price objective for the company. in a research note on Monday, August 15th. Wedbush restated an “outperform” rating and issued a $14.00 price objective on shares of Novavax in a research note on Wednesday, July 27th. Zacks Investment Research upgraded Novavax from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, FBR & Co set a $17.00 price objective on Novavax and gave the company a “buy” rating in a research note on Thursday, August 11th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.06.
The company’s market capitalization is $620.21 million. The company has a 50-day moving average of $6.53 and a 200 day moving average of $6.13.
Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.04. The company had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $8.03 million. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. The firm’s quarterly revenue was down 82.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) EPS. Analysts expect that Novavax Inc. will post ($1.09) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in NVAX. Wellington Management Group LLP boosted its position in shares of Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock worth $65,593,000 after buying an additional 3,849,585 shares during the last quarter. State Street Corp boosted its position in Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock valued at $63,579,000 after buying an additional 3,527,714 shares in the last quarter. Wexford Capital LP acquired a new position in Novavax during the first quarter valued at $990,000. William Harris Investors Inc. boosted its position in Novavax by 4.7% in the first quarter. William Harris Investors Inc. now owns 507,922 shares of the biopharmaceutical company’s stock valued at $2,621,000 after buying an additional 22,612 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Novavax by 9,162.1% in the first quarter. JPMorgan Chase & Co. now owns 1,316,238 shares of the biopharmaceutical company’s stock valued at $6,792,000 after buying an additional 1,302,027 shares in the last quarter. Institutional investors and hedge funds own 79.84% of the company’s stock.
Novavax Company Profile
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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