Short Interest in Novavax (NASDAQ:NVAX) Expands By 5.5%

Novavax (NASDAQ:NVAX) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 48,625,485 shares, an increase of 5.5% from the February 15th total of 46,071,037 shares. Based on an average daily volume of 13,194,189 shares, the days-to-cover ratio is presently 3.7 days. Currently, 18.6% of the company’s stock are short sold.

Shares of NASDAQ NVAX traded up $0.03 during trading on Monday, reaching $2.13. The company had a trading volume of 6,875,889 shares, compared to its average volume of 11,681,436. Novavax has a 12-month low of $0.73 and a 12-month high of $2.75. The stock has a market cap of $721.86, a P/E ratio of -3.38 and a beta of 2.38. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of -3.12.

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Novavax (NASDAQ:NVAX) last released its earnings results on Wednesday, March 14th. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $10.40 million during the quarter, compared to analysts’ expectations of $7.98 million. During the same quarter in the prior year, the company posted ($0.21) earnings per share. The company’s revenue was up 92.6% on a year-over-year basis. analysts forecast that Novavax will post -0.59 earnings per share for the current fiscal year.

A number of research firms have issued reports on NVAX. B. Riley set a $10.00 price objective on Novavax and gave the stock a “buy” rating in a report on Thursday, January 11th. Ladenburg Thalmann Financial Services increased their price objective on Novavax to $2.50 and gave the stock a “buy” rating in a report on Thursday, January 11th. S&P Equity Research decreased their price objective on Novavax from $1.81 to $1.35 in a report on Wednesday, January 10th. Zacks Investment Research downgraded Novavax from a “buy” rating to a “hold” rating in a report on Thursday, March 22nd. Finally, BidaskClub upgraded Novavax from a “hold” rating to a “buy” rating in a report on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $3.43.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of Novavax by 2.8% in the second quarter. Northern Trust Corp now owns 3,376,714 shares of the biopharmaceutical company’s stock worth $3,883,000 after acquiring an additional 92,854 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Novavax by 17.9% in the fourth quarter. Geode Capital Management LLC now owns 2,945,721 shares of the biopharmaceutical company’s stock worth $3,652,000 after acquiring an additional 446,318 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Novavax by 3.9% during the fourth quarter. Renaissance Technologies LLC now owns 2,815,565 shares of the biopharmaceutical company’s stock valued at $3,491,000 after buying an additional 105,611 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Novavax by 6.3% during the fourth quarter. Deutsche Bank AG now owns 2,567,169 shares of the biopharmaceutical company’s stock valued at $3,182,000 after buying an additional 152,974 shares during the last quarter. Finally, Rock Springs Capital Management LP boosted its position in shares of Novavax by 143.9% during the fourth quarter. Rock Springs Capital Management LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $2,480,000 after buying an additional 1,180,000 shares during the last quarter. 36.88% of the stock is currently owned by hedge funds and other institutional investors.

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Novavax Company Profile

Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.

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