Novavax Inc. (NASDAQ:NVAX)’s share price was up 10.8% during trading on Thursday after an insider bought additional shares in the company. The company traded as high as $2.25 and last traded at $2.15, with a volume of 60,304,435 shares changing hands. The stock had previously closed at $1.94.
Specifically, Director Michael A. Mcmanus, Jr. bought 30,000 shares of the stock in a transaction on Wednesday, September 21st. The shares were acquired at an average price of $1.61 per share, with a total value of $48,300.00. Following the acquisition, the director now directly owns 247,590 shares of the company’s stock, valued at approximately $398,619.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gail Boudreaux bought 100,000 shares of the stock in a transaction on Tuesday, September 20th. The shares were acquired at an average cost of $1.45 per share, for a total transaction of $145,000.00. Following the acquisition, 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 currently owned by corporate insiders.
NVAX has been the topic of a number of analyst reports. S&P Equity Research lowered their target price on shares of Novavax from $1.44 to $1.17 in a report on Friday, September 16th. Vetr cut shares of Novavax from a “strong-buy” rating to a “buy” rating and set a $7.77 target price on the stock. in a report on Monday, July 25th. Citigroup Inc. boosted their price target on shares of Novavax from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. FBR & Co set a $17.00 price target on shares of Novavax and gave the company a “buy” rating in a research report on Thursday, August 11th. Finally, Guggenheim restated a “buy” rating and set a $25.00 price target on shares of Novavax in a research report on Monday, August 29th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $7.06.
The stock has a 50-day moving average of $6.53 and a 200 day moving average of $6.13. The company’s market capitalization is $582.29 million.
Novavax (NASDAQ:NVAX) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. Novavax had a negative return on equity of 112.45% and a negative net margin of 1,405.84%. The company earned $2.50 million during the quarter, compared to analysts’ expectations of $8.03 million. During the same quarter in the prior year, the business posted ($0.08) EPS. The company’s revenue for the quarter was down 82.1% compared to the same quarter last year. Equities research analysts predict that Novavax Inc. will post ($1.09) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. Amalgamated Bank increased its position in Novavax by 1.1% in the second quarter. Amalgamated Bank now owns 28,525 shares of the biopharmaceutical company’s stock valued at $196,000 after buying an additional 300 shares during the last quarter. Stifel Financial Corp increased its position in Novavax by 1.9% in the second quarter. Stifel Financial Corp now owns 21,990 shares of the biopharmaceutical company’s stock valued at $160,000 after buying an additional 400 shares during the last quarter. Principal Financial Group Inc. increased its position in Novavax by 0.9% in the second quarter. Principal Financial Group Inc. now owns 47,560 shares of the biopharmaceutical company’s stock valued at $346,000 after buying an additional 445 shares during the last quarter. IFP Advisors Inc increased its position in Novavax by 1.7% in the first quarter. IFP Advisors Inc now owns 28,296 shares of the biopharmaceutical company’s stock valued at $146,000 after buying an additional 480 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in Novavax by 5.7% in the second quarter. Prudential Financial Inc. now owns 27,853 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 1,500 shares during 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.
Receive News & Ratings for Novavax Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novavax Inc. and related companies with MarketBeat.com's FREE daily email newsletter.