Novavax, Inc. (NASDAQ:NVAX) Director Sells $39,008.00 in Stock

Novavax, Inc. (NASDAQ:NVAX) Director James F. Young sold 4,600 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $8.48, for a total transaction of $39,008.00. Following the transaction, the director now owns 57,160 shares in the company, valued at approximately $484,716.80. This trade represents a 7.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Novavax Price Performance

NVAX stock opened at $8.57 on Friday. The company has a market capitalization of $1.37 billion, a P/E ratio of -3.79 and a beta of 2.02. Novavax, Inc. has a 12 month low of $3.53 and a 12 month high of $23.86. The firm’s fifty day simple moving average is $8.71 and its 200-day simple moving average is $11.38.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) 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 analysts’ expectations of $65.80 million. Novavax’s revenue for the quarter was down 54.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.26) earnings per share. As a group, sell-side analysts forecast that Novavax, Inc. will post -1.44 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Trading of Novavax

A number of hedge funds have recently modified their holdings of NVAX. Charles Schwab Investment Management Inc. raised its position 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 acquiring an additional 187,548 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Novavax by 26.7% during the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock worth $32,643,000 after purchasing an additional 517,727 shares during the period. Shah Capital Management increased its holdings in shares of Novavax by 19.0% during the 2nd 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 in the last quarter. State Street Corp lifted its stake in shares of Novavax by 26.7% in the 3rd 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. boosted 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 worth $6,296,000 after buying an additional 261,464 shares in the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

About Novavax

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.