Insider Selling: Novavax, Inc. (NASDAQ:NVAX) Director Sells $102,900.00 in Stock

Novavax, Inc. (NASDAQ:NVAX) Director James F. Young sold 7,500 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total transaction of $102,900.00. Following the transaction, the director now directly owns 69,260 shares of the company’s stock, valued at approximately $950,247.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Novavax Stock Down 6.4 %

NVAX stock opened at $13.11 on Thursday. The stock’s 50 day simple moving average is $11.63 and its 200 day simple moving average is $7.11. Novavax, Inc. has a fifty-two week low of $3.53 and a fifty-two week high of $23.86.

Novavax (NASDAQ:NVAX) last issued its earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The company had revenue of $93.90 million during the quarter, compared to the consensus estimate of $71.32 million. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($3.41) EPS. On average, sell-side analysts expect that Novavax, Inc. will post 0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Coatue Management LLC acquired a new stake in shares of Novavax in the 4th quarter worth about $7,294,000. Shah Capital Management increased its holdings in Novavax by 22.9% during the 4th quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock worth $37,348,000 after purchasing an additional 1,450,000 shares in the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Novavax in the first quarter worth approximately $5,406,000. Vanguard Group Inc. lifted its holdings in shares of Novavax by 9.3% in the third quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock valued at $83,633,000 after purchasing an additional 978,873 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Novavax by 62.4% during the fourth quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock valued at $7,737,000 after buying an additional 619,370 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on NVAX. Bank of America lifted their price objective on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. upgraded shares of Novavax from an “underweight” rating to a “neutral” rating in a research report on Friday, May 10th. B. Riley lifted their target price on shares of Novavax from $11.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Novavax in a research report on Monday, May 13th. Finally, TD Cowen lifted their price objective on Novavax from $5.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Novavax presently has a consensus rating of “Hold” and an average target price of $19.00.

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.