Novavax (NASDAQ:NVAX) Trading Down 7.1% on Insider Selling

Novavax, Inc. (NASDAQ:NVAX) dropped 7.1% during trading on Wednesday following insider selling activity. The stock traded as low as $12.83 and last traded at $13.01. Approximately 6,727,843 shares were traded during trading, a decline of 45% from the average daily volume of 12,302,667 shares. The stock had previously closed at $14.00.

Specifically, Director James F. Young sold 7,500 shares of Novavax stock in a transaction that occurred 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 transaction, the director now owns 61,760 shares in the company, valued at $870,198.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director James F. Young sold 7,500 shares of Novavax stock in a transaction that occurred 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 transaction, the director now owns 61,760 shares in the company, valued at $870,198.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Filip Dubovsky sold 47,312 shares of Novavax stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total value of $657,636.80. Following the transaction, the insider now owns 38,953 shares in the company, valued at approximately $541,446.70. The disclosure for this sale can be found here. Insiders have sold a total of 62,312 shares of company stock worth $866,212 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Novavax Stock Down 6.4 %

The stock has a 50 day simple moving average of $11.63 and a 200 day simple moving average of $7.11. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -4.14 and a beta of 1.96.

Novavax (NASDAQ:NVAX) last announced its earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The company had revenue of $93.90 million during the quarter, compared to analysts’ expectations of $71.32 million. During the same quarter last year, the firm posted ($3.41) earnings per share. Novavax’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, analysts forecast that Novavax, Inc. will post 0.49 EPS for the current year.

Institutional Investors Weigh In On Novavax

Large investors have recently bought and sold shares of the business. Swedbank AB bought a new stake in Novavax in the first quarter worth $26,000. Hodges Capital Management Inc. acquired a new position in Novavax during the 3rd quarter worth $72,000. Herr Investment Group LLC acquired a new position in Novavax during the 1st quarter worth $48,000. Nomura Holdings Inc. acquired a new position in Novavax during the 3rd quarter worth $74,000. Finally, Alpine Global Management LLC acquired a new position in Novavax during the 1st quarter worth $49,000. 53.04% of the stock is currently owned by institutional investors.

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.