Novavax, Inc. (NASDAQ:NVAX) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 63,771,259 shares, a growth of 4.1% from the January 15th total of 61,262,737 shares. Based on an average trading volume of 8,256,953 shares, the short-interest ratio is presently 7.7 days. Approximately 16.9% of the company’s shares are sold short.
Several hedge funds have recently made changes to their positions in NVAX. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Novavax by 131.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,729 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 9,515 shares during the period. B. Riley Wealth Management Inc. acquired a new position in shares of Novavax in the 3rd quarter valued at $47,000. Pacer Advisors Inc. acquired a new position in Novavax in the 3rd quarter worth $113,000. Cerity Partners LLC boosted its stake in Novavax by 51.0% in the 4th quarter. Cerity Partners LLC now owns 63,162 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 21,331 shares during the period. Finally, Virtu Financial LLC boosted its stake in Novavax by 72.1% in the 4th quarter. Virtu Financial LLC now owns 76,918 shares of the biopharmaceutical company’s stock worth $142,000 after purchasing an additional 32,228 shares during the period. 40.98% of the stock is owned by institutional investors.
Shares of NVAX stock traded down $0.07 on Monday, hitting $2.20. The stock had a trading volume of 6,696,840 shares, compared to its average volume of 9,107,929. Novavax has a twelve month low of $1.15 and a twelve month high of $2.75. The firm has a market capitalization of $869.07 million, a price-to-earnings ratio of -3.49 and a beta of 2.41.
Several analysts have commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Novavax in a research report on Friday, November 23rd. BidaskClub cut shares of Novavax from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. LADENBURG THALM/SH SH assumed coverage on shares of Novavax in a research report on Tuesday, December 18th. They set a “buy” rating and a $3.00 target price for the company. Oppenheimer assumed coverage on shares of Novavax in a research report on Monday, December 10th. They set an “outperform” rating and a $4.00 target price for the company. Finally, Piper Jaffray Companies upped their target price on shares of Novavax to $4.50 and gave the company a “positive” rating in a research report on Thursday, January 3rd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Novavax currently has an average rating of “Buy” and a consensus target price of $4.18.
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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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