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 shares were sold at an average price of $9.02, for a total value of $37,433.00. Following the transaction, the director now owns 14,770 shares in the company, valued at approximately $133,225.40. This represents a 21.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Novavax Stock Performance

Shares of NVAX stock traded up $0.53 during trading hours on Thursday, reaching $8.57. The company had a trading volume of 3,813,721 shares, compared to its average volume of 9,060,255. The stock has a fifty day moving average of $8.74 and a 200-day moving average of $11.40. The company has a market capitalization of $1.37 billion, a price-to-earnings 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.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. The firm had revenue of $84.51 million during the quarter, compared to analysts’ expectations of $65.80 million. During the same period in the prior year, the company posted ($1.26) EPS. The company’s revenue for the quarter was down 54.8% compared to the same quarter last year. On average, analysts forecast that Novavax, Inc. will post -1.44 EPS for the current year.

Institutional Trading of Novavax

Several institutional investors have recently made changes to their positions in NVAX. Franklin Resources Inc. raised its stake in shares of Novavax by 300.4% in the 3rd quarter. Franklin Resources Inc. now owns 97,162 shares of the biopharmaceutical company’s stock valued at $1,226,000 after acquiring an additional 72,894 shares during the period. Neo Ivy Capital Management purchased a new position in Novavax in the third quarter worth approximately $714,000. Geode Capital Management LLC grew its stake in shares of Novavax by 9.5% during the third quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company’s stock worth $44,245,000 after purchasing an additional 304,159 shares in the last quarter. Barclays PLC lifted its stake in Novavax by 73.9% during the third quarter. Barclays PLC now owns 709,579 shares of the biopharmaceutical company’s stock worth $8,961,000 after purchasing an additional 301,627 shares during the last quarter. Finally, XTX Topco Ltd grew its position in shares of Novavax by 147.6% in the 3rd quarter. XTX Topco Ltd now owns 63,126 shares of the biopharmaceutical company’s stock valued at $797,000 after buying an additional 37,631 shares during the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Analysts Set New Price Targets

NVAX has been the subject of several recent analyst reports. 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. B. Riley restated a “buy” rating and set a $26.00 target price (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Finally, Jefferies Financial Group decreased 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 investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.