Insider Selling: Novavax, Inc. (NASDAQ:NVAX) Director Sells 4,150 Shares of Stock

Novavax, Inc. (NASDAQ:NVAX) 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 transaction of $37,433.00. Following the transaction, the director now owns 14,770 shares in the company, valued at $133,225.40. This represents a 21.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Novavax Trading Up 6.6 %

Shares of NASDAQ:NVAX opened at $8.57 on Friday. The stock has a fifty day simple moving average of $8.71 and a two-hundred day simple moving average of $11.38. Novavax, Inc. has a 12-month low of $3.53 and a 12-month high of $23.86. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -3.79 and a beta of 2.02.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results 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 company had revenue of $84.51 million during the quarter, compared to analysts’ expectations of $65.80 million. Novavax’s revenue for the quarter was down 54.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.26) EPS. As a group, equities research analysts predict that Novavax, Inc. will post -1.44 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on NVAX. Jefferies Financial Group reduced their target price on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. B. Riley reiterated a “buy” rating and issued a $26.00 price objective (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. Finally, 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.83.

Institutional Investors Weigh In On Novavax

A number of institutional investors have recently made changes to their positions in NVAX. State Street Corp increased its holdings in shares of Novavax by 26.7% in the 3rd quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after purchasing an additional 1,621,772 shares in the last quarter. Shah Capital Management boosted its holdings in 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 purchasing an additional 1,544,263 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Novavax during the 2nd quarter valued at $14,055,000. SG Americas Securities LLC increased its position in Novavax by 940.7% during the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock valued at $14,579,000 after acquiring an additional 1,043,363 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Novavax by 48.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock valued at $25,252,000 after purchasing an additional 656,900 shares during the period. Hedge funds and other institutional investors own 53.04% of the company’s stock.

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.