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

Novavax, Inc. (NASDAQ:NVAX) Director Rachel K. King sold 4,150 shares of the business’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 sale, the director now owns 14,770 shares in the company, valued at approximately $133,225.40. The trade was a 21.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Novavax Stock Performance

Shares of NASDAQ:NVAX opened at $8.85 on Friday. The firm has a market capitalization of $1.42 billion, a P/E ratio of -3.92 and a beta of 2.07. The stock has a 50 day moving average price of $8.69 and a 200-day moving average price of $11.34. Novavax, Inc. has a 52-week low of $3.53 and a 52-week high of $23.86.

Novavax (NASDAQ:NVAX) last posted 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 during 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 quarter in the previous year, the company earned ($1.26) EPS. On average, equities analysts forecast that Novavax, Inc. will post -1.44 EPS for the current fiscal year.

Institutional Trading of Novavax

Institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise boosted its stake in Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,500 shares during the last quarter. Amalgamated Bank boosted its stake in Novavax by 26.9% during the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,036 shares during the last quarter. Signaturefd LLC boosted its stake in Novavax by 214.5% during the 2nd quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 3,874 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 1,598 shares during the last quarter. Finally, Midland Wealth Advisors LLC purchased a new stake in Novavax during the 2nd quarter valued at $152,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVAX has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating and set a $26.00 price objective (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Novavax in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group cut their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.83.

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.