Novavax (NASDAQ:NVAX) Issues Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Novavax (NASDAQ:NVAX) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.24, RTT News reports. During the same quarter in the prior year, the firm posted ($1.44) earnings per share.

Novavax Trading Down 3.6 %

NASDAQ:NVAX traded down $0.26 during mid-day trading on Thursday, reaching $7.06. The company’s stock had a trading volume of 8,933,731 shares, compared to its average volume of 4,528,903. Novavax has a 12-month low of $3.81 and a 12-month high of $23.86. The firm’s fifty day moving average price is $8.55 and its two-hundred day moving average price is $10.02. The stock has a market cap of $1.13 billion, a P/E ratio of -3.12, a PEG ratio of 2.85 and a beta of 2.14.

Insiders Place Their Bets

In other Novavax 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 transaction of $43,200.00. Following the completion of the sale, the director now directly owns 51,760 shares in the company, valued at $414,080. The trade was a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the director now 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. In the last 90 days, insiders sold 14,150 shares of company stock valued at $119,641. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Novavax in a report on Tuesday, December 10th. One investment 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.