Novavax Sees Unusually High Options Volume (NASDAQ:NVAX)

Novavax, Inc. (NASDAQ:NVAX) saw unusually large options trading activity on Monday. Traders acquired 2,991 call options on the company. This represents an increase of 900% compared to the average daily volume of 299 call options.

NVAX has been the topic of several research analyst reports. Oppenheimer lowered their price objective on Novavax from $25.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. Zacks Investment Research cut Novavax from a “hold” rating to a “sell” rating in a report on Friday, October 25th. HC Wainwright raised their target price on Novavax from $10.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Citigroup lowered their price target on Novavax from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, LADENBURG THALM/SH SH reiterated a “buy” rating and set a $27.50 price target on shares of Novavax in a research report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $28.85.

In other news, SVP John A. Herrmann III sold 3,643 shares of Novavax stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $7.07, for a total value of $25,756.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gregory M. Glenn sold 9,620 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $6.18, for a total transaction of $59,451.60. Following the sale, the insider now directly owns 123 shares of the company’s stock, valued at approximately $760.14. The disclosure for this sale can be found here. Insiders have sold 22,770 shares of company stock valued at $132,123 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in shares of Novavax by 473.7% in the third quarter. Tower Research Capital LLC TRC now owns 7,166 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 5,917 shares during the last quarter. Rhumbline Advisers lifted its position in Novavax by 10.3% during the third quarter. Rhumbline Advisers now owns 33,428 shares of the biopharmaceutical company’s stock worth $168,000 after buying an additional 3,118 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Novavax during the second quarter worth $197,000. A.R.T. Advisors LLC acquired a new position in Novavax during the second quarter worth $435,000. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Novavax in the 2nd quarter valued at $510,000. Institutional investors and hedge funds own 26.74% of the company’s stock.

Shares of NASDAQ NVAX opened at $5.22 on Tuesday. Novavax has a 12-month low of $3.54 and a 12-month high of $51.60. The stock has a market cap of $128.90 million, a PE ratio of -0.52 and a beta of 1.96. The company has a 50-day moving average of $4.34 and a 200 day moving average of $5.21.

Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.98) by $0.24. The business had revenue of $2.51 million during the quarter, compared to analysts’ expectations of $4.40 million. During the same period last year, the business earned ($2.40) earnings per share. On average, research analysts anticipate that Novavax will post -5.7 earnings per share for the current fiscal year.

About Novavax

Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.

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