Novavax, Inc. (NASDAQ:NVAX) issued its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. The business had revenue of $5.68 million during the quarter, compared to the consensus estimate of $6.17 million. Novavax had a negative return on equity of 189.14% and a negative net margin of 1,908.41%. The company’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.29) earnings per share.
Shares of Novavax (NASDAQ:NVAX) traded down 4.59% on Friday, reaching $1.04. The company had a trading volume of 4,675,430 shares. The stock’s market capitalization is $293.90 million. Novavax has a 52-week low of $0.73 and a 52-week high of $8.49. The company has a 50 day moving average price of $0.91 and a 200 day moving average price of $1.25.
NVAX has been the subject of a number of research reports. Zacks Investment Research raised Novavax from a “sell” rating to a “buy” rating and set a $1.75 target price for the company in a report on Friday, March 3rd. Cantor Fitzgerald set a $2.00 price objective on Novavax and gave the company a “hold” rating in a research report on Monday, May 8th. Chardan Capital restated a “hold” rating and issued a $1.50 target price on shares of Novavax in a report on Tuesday, February 28th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “neutral” rating on shares of Novavax in a research note on Wednesday, March 1st. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $5.61.
In other Novavax news, insider Stanley C. Erck purchased 50,000 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was purchased at an average price of $0.84 per share, for a total transaction of $42,000.00. Following the completion of the purchase, the insider now directly owns 128,279 shares in the company, valued at $107,754.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired 105,000 shares of company stock valued at $90,800 over the last 90 days. Corporate insiders own 3.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Novavax by 99.2% in the fourth quarter. State Street Corp now owns 19,971,040 shares of the biopharmaceutical company’s stock worth $25,163,000 after buying an additional 9,947,481 shares in the last quarter. Norges Bank bought a new position in shares of Novavax during the fourth quarter worth approximately $3,300,000. JPMorgan Chase & Co. raised its position in shares of Novavax by 41.9% in the first quarter. JPMorgan Chase & Co. now owns 3,708,105 shares of the biopharmaceutical company’s stock worth $4,746,000 after buying an additional 1,095,388 shares during the period. 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 worth $27,752,000 after buying an additional 938,581 shares in the last quarter. Finally, Alden Global Capital LLC acquired a new stake in Novavax during the fourth quarter worth about $807,000. 60.36% of the stock is currently owned by hedge funds and other institutional investors.
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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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