Novavax, Inc. (NASDAQ:NVAX) Short Interest Update

Novavax, Inc. (NASDAQ:NVAX) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 56,851,825 shares, a decline of 11.6% from the June 15th total of 64,277,879 shares. Approximately 20.4% of the company’s shares are short sold. Based on an average trading volume of 6,096,592 shares, the short-interest ratio is currently 9.3 days.

Novavax (NVAX) traded up 1.8673% on Friday, hitting $0.9983. The company’s stock had a trading volume of 3,688,982 shares. Novavax has a 12 month low of $0.73 and a 12 month high of $8.49. The firm has a 50 day moving average of $1.15 and a 200 day moving average of $1.15. The firm’s market cap is $289.41 million.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.16). Novavax had a negative net margin of 1,006.00% and a negative return on equity of 787.38%. The firm had revenue of $6.70 million during the quarter, compared to the consensus estimate of $6.15 million. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. The company’s revenue was up 168.0% on a year-over-year basis. Equities research analysts forecast that Novavax will post ($0.62) earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on NVAX shares. Zacks Investment Research raised Novavax from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research note on Saturday, June 10th. Ladenburg Thalmann Financial Services raised Novavax from a “neutral” rating to a “buy” rating and set a $1.60 price target for the company in a research report on Wednesday. Cantor Fitzgerald set a $2.00 price target on Novavax and gave the company a “hold” rating in a research report on Monday, May 8th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $1.50 price target on shares of Novavax in a research report on Wednesday, July 26th. Finally, BidaskClub raised Novavax from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $5.24.

Hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake in Novavax by 99.2% in the fourth quarter. State Street Corp now owns 19,971,040 shares of the biopharmaceutical company’s stock valued at $25,163,000 after buying an additional 9,947,481 shares in the last quarter. Norges Bank bought a new stake in Novavax during the fourth quarter valued at $3,300,000. Chicago Equity Partners LLC bought a new stake in Novavax during the second quarter valued at $1,852,000. JPMorgan Chase & Co. increased its stake in Novavax by 40.1% in the second quarter. JPMorgan Chase & Co. now owns 5,196,508 shares of the biopharmaceutical company’s stock valued at $5,976,000 after buying an additional 1,488,403 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Novavax by 4.5% in the first quarter. Vanguard Group Inc. now owns 21,681,318 shares of the biopharmaceutical company’s stock valued at $27,752,000 after buying an additional 938,581 shares in the last quarter. 50.16% of the stock is owned by hedge funds and other institutional investors.

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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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