Novavax, Inc. (NASDAQ:NVAX) Director Sells $105,675.00 in Stock

Novavax, Inc. (NASDAQ:NVAX) Director James F. Young sold 7,500 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $14.09, for a total transaction of $105,675.00. Following the completion of the transaction, the director now directly owns 61,760 shares in the company, valued at approximately $870,198.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Novavax Trading Down 2.1 %

Novavax stock opened at $12.83 on Friday. Novavax, Inc. has a 1-year low of $3.53 and a 1-year high of $23.86. The firm has a 50-day moving average of $11.81 and a 200-day moving average of $7.15.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The firm had revenue of $93.90 million during the quarter, compared to analysts’ expectations of $71.32 million. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.41) EPS. On average, analysts expect that Novavax, Inc. will post 0.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC purchased a new stake in shares of Novavax in the 1st quarter worth about $5,406,000. Swedbank AB purchased a new stake in Novavax in the first quarter worth about $26,000. Tidal Investments LLC purchased a new stake in Novavax in the first quarter worth about $172,000. California State Teachers Retirement System boosted its position in Novavax by 11.3% during the 1st quarter. California State Teachers Retirement System now owns 107,511 shares of the biopharmaceutical company’s stock valued at $514,000 after acquiring an additional 10,949 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Novavax by 17.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,065 shares of the biopharmaceutical company’s stock worth $269,000 after acquiring an additional 8,128 shares during the period. 53.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on NVAX. B. Riley increased their target price on Novavax from $11.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. TD Cowen boosted their price target on shares of Novavax from $5.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. JPMorgan Chase & Co. raised Novavax from an “underweight” rating to a “neutral” rating in a research note on Friday, May 10th. HC Wainwright reissued a “buy” rating and issued a $19.00 target price on shares of Novavax in a research note on Monday, May 13th. Finally, Bank of America lifted their price target on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.00.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.