Novavax, Inc. (NVAX) Sees Unusually-High Trading Volume After Insider Buying Activity
Novavax, Inc. (NASDAQ:NVAX) saw strong trading volume on Monday after an insider bought additional shares in the company. 2,289,400 shares changed hands during trading, a decline of 35% from the previous session’s volume of 3,506,179 shares.The stock last traded at $1.12 and had previously closed at $1.13.
Specifically, Director James F. Young sold 175,000 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $1.06, for a total value of $185,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stanley C. Erck purchased 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average price 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 approximately $257,955.27. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.
A number of equities research analysts recently weighed in 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 target on the stock in a research note on Wednesday, August 16th. Cantor Fitzgerald restated a “hold” rating and issued a $2.00 price target 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 target 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 analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $3.12.
The company has a debt-to-equity ratio of -4.28, a current ratio of 3.31 and a quick ratio of 3.31.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings data 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. The firm had revenue of $8.35 million for the quarter, compared to analysts’ expectations of $6.42 million. Novavax had a negative return on equity of 787.38% and a negative net margin of 726.35%. The company’s quarterly revenue was up 158.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.24) EPS. analysts forecast that Novavax, Inc. will post -0.61 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Profund Advisors LLC increased its position in Novavax by 0.4% during the 2nd quarter. Profund Advisors LLC now owns 120,775 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 455 shares during the period. HighTower Advisors LLC increased its position in Novavax by 3.8% during the 1st quarter. HighTower Advisors LLC now owns 142,000 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 5,250 shares during the period. Bank of New York Mellon Corp increased its position in Novavax by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,215,100 shares of the biopharmaceutical company’s stock worth $1,555,000 after buying an additional 10,347 shares during the period. American International Group Inc. increased its position in Novavax by 7.1% during the 1st quarter. American International Group Inc. now owns 166,252 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 10,965 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Novavax by 6.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 232,406 shares of the biopharmaceutical company’s stock worth $267,000 after buying an additional 14,114 shares during the period. Hedge funds and other institutional investors own 38.87% of the company’s stock.
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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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