Novavax, Inc. (NASDAQ:NVAX) Director Sells $37,433.00 in Stock

Novavax, Inc. (NASDAQ:NVAX) Director Rachel K. King sold 4,150 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $9.02, for a total value of $37,433.00. Following the sale, the director now owns 14,770 shares in the company, valued at $133,225.40. This trade represents a 21.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Novavax Trading Up 3.3 %

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

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

Institutional Investors Weigh In On Novavax

Several institutional investors and hedge funds have recently modified their holdings of the stock. Shah Capital Management boosted its position in shares of Novavax by 19.0% in the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after buying an additional 1,544,263 shares during the period. State Street Corp boosted its position in shares of Novavax by 26.7% in the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after buying an additional 1,621,772 shares during the period. Geode Capital Management LLC boosted its position in shares of Novavax by 9.5% in the third quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company’s stock worth $44,245,000 after buying an additional 304,159 shares during the period. Bank of Montreal Can boosted its position in shares of Novavax by 26.7% in the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock worth $32,643,000 after buying an additional 517,727 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of Novavax by 48.9% in the third quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock worth $25,252,000 after buying an additional 656,900 shares during the period. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVAX. Jefferies Financial Group decreased their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. HC Wainwright restated 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 target (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Novavax has an average rating of “Hold” and a consensus target price of $17.83.

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.