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 stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $9.02, for a total value of $37,433.00. Following the transaction, the director now directly owns 14,770 shares of the company’s stock, valued at approximately $133,225.40. This trade represents a 21.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Novavax Price Performance

NASDAQ NVAX opened at $8.85 on Friday. Novavax, Inc. has a 1-year low of $3.53 and a 1-year high of $23.86. The company has a market capitalization of $1.42 billion, a P/E ratio of -3.92 and a beta of 2.07. The business has a 50 day moving average price of $8.69 and a 200 day moving average price of $11.34.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. B. Riley reissued 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. Jefferies Financial Group cut their target price on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, HC Wainwright reissued a “buy” rating and set a $19.00 target price on shares of Novavax in a research note 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.83.

Hedge Funds Weigh In On Novavax

Several hedge funds have recently bought and sold shares of the stock. Shah Capital Management increased its position in Novavax by 19.0% during the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after buying an additional 1,544,263 shares in the last quarter. State Street Corp increased its position in Novavax by 26.7% during the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after buying an additional 1,621,772 shares in the last quarter. Geode Capital Management LLC increased its position in 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 buying an additional 304,159 shares in the last quarter. Bank of Montreal Can increased its position in Novavax by 26.7% during the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock worth $32,643,000 after buying an additional 517,727 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in Novavax by 48.9% during the third quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock worth $25,252,000 after buying an additional 656,900 shares in the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Novavax Company Profile

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.