Novavax, Inc. (NASDAQ:NVAX) Director Rachel K. King Sells 4,150 Shares

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) Director Rachel K. King sold 4,150 shares of the company'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 completion of the transaction, the director now directly owns 14,770 shares in the company, valued at $133,225.40. This trade represents a 21.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Novavax Stock Up 6.6 %

Shares of Novavax stock traded up $0.53 during mid-day trading on Thursday, reaching $8.57. 3,813,721 shares of the stock traded hands, compared to its average volume of 9,060,255. The stock has a market capitalization of $1.37 billion, a PE ratio of -3.79 and a beta of 2.02. The business has a 50-day moving average of $8.71 and a 200 day moving average of $11.38. Novavax, Inc. has a fifty-two week low of $3.53 and a fifty-two week high of $23.86.

Novavax (NASDAQ:NVAX - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts' consensus estimates of ($0.83) by $0.07. The business had revenue of $84.51 million during the quarter, compared to analyst estimates of $65.80 million. During the same quarter in the previous year, the company posted ($1.26) EPS. The firm's revenue was down 54.8% on a year-over-year basis. On average, equities research analysts expect that Novavax, Inc. will post -1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Novavax

Several large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Novavax by 16.5% in 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 acquiring 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 purchasing an additional 517,727 shares during the last quarter. Shah Capital Management raised its position in Novavax by 19.0% in the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company's stock valued at $122,322,000 after purchasing an additional 1,544,263 shares during the period. State Street Corp lifted its stake 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 purchasing 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 third quarter. Vontobel Holding Ltd. now owns 498,532 shares of the biopharmaceutical company's stock worth $6,296,000 after buying an additional 261,464 shares during the period. Institutional investors and hedge funds own 53.04% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on NVAX shares. B. Riley reiterated a "buy" rating and set a $26.00 target price (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. Jefferies Financial Group lowered their target price on shares of 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 reaffirmed a "buy" rating and set a $19.00 price target on shares of Novavax in a research 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 issued a buy rating to the company's stock. According to MarketBeat.com, the stock 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.