Novavax (NASDAQ:NVAX) Shares Down 8.8% – Time to Sell?

Novavax, Inc. (NASDAQ:NVAX) traded down 8.8% during mid-day trading on Monday . The stock traded as low as $7.32 and last traded at $7.29. 2,424,248 shares were traded during mid-day trading, a decline of 44% from the average session volume of 4,300,247 shares. The stock had previously closed at $7.99.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Novavax in a report on Tuesday, December 10th. One 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.83.

Novavax Trading Down 5.3 %

The stock has a 50 day simple moving average of $8.65 and a 200-day simple moving average of $10.10. The firm has a market capitalization of $1.21 billion, a P/E ratio of -3.36, a P/E/G ratio of 2.85 and a beta of 2.14.

Insider Activity at Novavax

In other news, Director James F. Young sold 4,600 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $8.48, for a total value of $39,008.00. Following the transaction, the director now owns 57,160 shares of the company’s stock, valued at $484,716.80. This trade represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rachel K. King sold 4,150 shares of the business’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,150 shares of company stock worth $119,641. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Novavax

Several large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of Novavax by 16.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company’s stock valued at $16,741,000 after purchasing an additional 187,548 shares during the period. Bank of Montreal Can increased its holdings in Novavax by 26.7% in the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock valued at $32,643,000 after acquiring an additional 517,727 shares during the last quarter. State Street Corp lifted its stake in 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. Franklin Resources Inc. boosted its holdings in shares of Novavax by 300.4% during the 3rd quarter. Franklin Resources Inc. now owns 97,162 shares of the biopharmaceutical company’s stock valued at $1,226,000 after purchasing an additional 72,894 shares during the last quarter. Finally, Shah Capital Management boosted its holdings in shares of Novavax by 13.6% during the 4th quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company’s stock valued at $89,637,000 after purchasing an additional 1,333,305 shares during 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.