Novavax (NASDAQ:NVAX) Stock Price Up 5.6% – Here’s Why

Novavax, Inc. (NASDAQ:NVAX)’s share price shot up 5.6% on Friday . The company traded as high as $8.50 and last traded at $8.36. 4,877,061 shares changed hands during trading, an increase of 16% from the average session volume of 4,197,495 shares. The stock had previously closed at $7.92.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Novavax in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Novavax presently has an average rating of “Hold” and a consensus price target of $17.83.

Novavax Stock Performance

The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -3.54, a P/E/G ratio of 2.85 and a beta of 2.14. The firm has a fifty day moving average of $8.65 and a 200-day moving average of $10.11.

Insider Transactions at Novavax

In related news, Director James F. Young sold 5,400 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was 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 is available through this link. Also, Director Rachel K. King sold 4,150 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $9.02, for a total value of $37,433.00. Following the completion of the sale, the director now directly owns 14,770 shares of the company’s stock, valued at approximately $133,225.40. This represents a 21.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,150 shares of company stock valued at $119,641. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Novavax

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in Novavax in the fourth quarter valued at about $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Novavax by 19.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 268,684 shares of the biopharmaceutical company’s stock valued at $2,160,000 after buying an additional 44,359 shares during the last quarter. Twinbeech Capital LP bought a new stake in Novavax in the fourth quarter valued at about $555,000. Sanofi bought a new stake in Novavax in the fourth quarter valued at about $55,319,000. Finally, ProShare Advisors LLC boosted its stake in Novavax by 45.1% in the fourth quarter. ProShare Advisors LLC now owns 70,988 shares of the biopharmaceutical company’s stock valued at $571,000 after acquiring an additional 22,051 shares during the period. 53.04% of the stock is owned by institutional investors.

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.