Insider Selling: Novavax, Inc. (NASDAQ:NVAX) Director Sells $43,200.00 in Stock

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

Novavax Price Performance

Shares of NVAX opened at $8.85 on Friday. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.92 and a beta of 2.07. Novavax, Inc. has a 1 year low of $3.53 and a 1 year high of $23.86. The business’s 50 day simple moving average is $8.69 and its 200-day simple moving average is $11.34.

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

Institutional Trading of Novavax

Several hedge funds have recently modified their holdings of the company. Amalgamated Bank raised its holdings in shares of Novavax by 26.9% during the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 1,036 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in Novavax by 3.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock valued at $568,000 after buying an additional 1,300 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 1,598 shares during the period. Victory Capital Management Inc. raised its holdings in Novavax by 12.0% during the 3rd quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock valued at $244,000 after buying an additional 2,072 shares during the period. Finally, Banque Cantonale Vaudoise raised its holdings in Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 2,500 shares during the period. 53.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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