Insider Selling: Novavax, Inc. (NASDAQ:NVAX) Director Sells 5,400 Shares of Stock

Novavax, Inc. (NASDAQ:NVAX) Director James F. Young sold 5,400 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total value of $43,200.00. Following the completion of the sale, the director now directly owns 51,760 shares of the company’s stock, valued at $414,080. The trade was a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Novavax Stock Up 3.3 %

NVAX stock opened at $8.85 on Friday. The firm has a market cap of $1.42 billion, a PE ratio of -3.92 and a beta of 2.07. The business has a 50 day moving average of $8.69 and a 200-day moving average of $11.34. Novavax, Inc. has a 12-month low of $3.53 and a 12-month high of $23.86.

Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.07. The business had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. The business’s revenue was down 54.8% on a year-over-year basis. During the same period in the prior year, the company earned ($1.26) earnings per share. On average, research analysts expect that Novavax, Inc. will post -1.44 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

Several institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Novavax by 16.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company’s stock valued at $16,741,000 after purchasing an additional 187,548 shares during the period. Bank of Montreal Can grew its holdings in Novavax by 26.7% during the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock valued at $32,643,000 after purchasing an additional 517,727 shares during the period. Shah Capital Management grew its holdings in Novavax by 19.0% during the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock valued at $122,322,000 after purchasing an additional 1,544,263 shares during the period. State Street Corp grew its holdings in Novavax by 26.7% during the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock valued at $97,099,000 after purchasing an additional 1,621,772 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in Novavax by 110.3% during the third quarter. Vontobel Holding Ltd. now owns 498,532 shares of the biopharmaceutical company’s stock valued at $6,296,000 after purchasing an additional 261,464 shares during the period. 53.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Jefferies Financial Group decreased their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Novavax in a report on Tuesday, December 10th. Finally, B. Riley reissued a “buy” rating and set a $26.00 price objective (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.83.

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.