Novavax, Inc. (NASDAQ:NVAX) Director Sells $39,008.00 in Stock

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) Director James F. Young sold 4,600 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $8.48, for a total transaction of $39,008.00. Following the sale, the director now directly owns 57,160 shares in the company, valued at $484,716.80. This trade represents a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Novavax Price Performance

Shares of NVAX stock traded up $0.53 on Thursday, hitting $8.57. 3,813,721 shares of the stock traded hands, compared to its average volume of 9,060,255. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -3.79 and a beta of 2.02. The firm has a 50 day simple moving average of $8.71 and a two-hundred day simple moving average of $11.38. Novavax, Inc. has a 52 week low of $3.53 and a 52 week high of $23.86.

Novavax (NASDAQ:NVAX - Get Free Report) last released its 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 business had revenue of $84.51 million for the quarter, compared to analysts' expectations of $65.80 million. During the same quarter in the prior year, the business posted ($1.26) EPS. The business's revenue for the quarter was down 54.8% compared to the same quarter last year. Sell-side analysts forecast that Novavax, Inc. will post -1.44 EPS for the current year.

Hedge Funds Weigh In On Novavax

Several institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its holdings 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 last quarter. Bank of Montreal Can boosted its stake 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 valued at $32,643,000 after buying an additional 517,727 shares during the last quarter. Shah Capital Management increased its stake in Novavax by 19.0% in the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company's stock worth $122,322,000 after acquiring an additional 1,544,263 shares during the last quarter. State Street Corp raised its holdings in shares of Novavax by 26.7% during the 3rd quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company's stock worth $97,099,000 after acquiring an additional 1,621,772 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of Novavax by 110.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 498,532 shares of the biopharmaceutical company's stock valued at $6,296,000 after acquiring an additional 261,464 shares during the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on NVAX shares. B. Riley reiterated a "buy" rating and issued a $26.00 price target (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Jefferies Financial Group cut their target price on shares of Novavax from $31.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. Finally, HC Wainwright reissued a "buy" rating and set a $19.00 price target 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 issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $17.83.

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.