Insider Selling: Novavax, Inc. (NASDAQ:NVAX) Director Sells 4,150 Shares of Stock

On January 3, 2025, news surfaced regarding a significant insider transaction at Novavax, Inc. (NASDAQ:NVAX). Rachel K. King, a director at the company, sold 4,150 shares of her stock holdings in a deal that took place on December 13th. The shares were sold at an average price of $9.02 each, resulting in a total transaction value of $37,433. Following this sale, King now holds a total of 14,770 shares, which are currently valued at around $133,225.40. This represents a notable decrease of 21.93% in her overall position in the company.

Recent Stock Performance

On the day of the report, shares of Novavax opened at $8.57. The stock has exhibited varied performance over recent months, with a fifty-day moving average of $8.71 and a more extended two-hundred-day moving average of $11.38. Over the past year, the stock has seen a low of $3.53 and a high of $23.86. As of now, Novavax has a market capitalization of $1.37 billion, and its price-to-earnings (P/E) ratio stands at -3.79, indicating a negative earnings period with a beta value of 2.02.

Financial Performance Despite Challenges

Last reported quarterly earnings for Novavax occurred on November 12th, during which the company disclosed an earnings per share (EPS) of ($0.76). This figure surpassed analysts' estimates of ($0.83) by $0.07. However, the company's revenue for the quarter was reported at $84.51 million, notably exceeding expectations of $65.80 million, although it marked a decline of 54.8% compared to the same quarter the previous year. For reference, in the corresponding quarter last year, Novavax had an EPS of ($1.26). Analysts predict that for the current year, Novavax will present an EPS of approximately -1.44.

Analyst Ratings and Price Targets

In terms of market sentiment, several research firms have recently updated their assessments of Novavax's stocks. Jefferies Financial Group slightly reduced their target price from $31.00 to $25.00 while maintaining a “buy” rating. B. Riley has also reiterated a “buy” rating, raising their price objective from $23.00 to $26.00. Additionally, HC Wainwright restated their “buy” rating with a newly set target price of $19.00. Currently, one analyst has issued a sell rating, two have rated it as a hold, and three have a buy rating, resulting in a consensus rating of “Hold” with a target price averaging around $17.83.

Institutional Investment Activity

Institutional investors have shown varied interest in Novavax stock, with several making adjustments to their stakes recently. For instance, State Street Corp has increased its holdings by 26.7% in the third quarter, now owning 7,687,951 shares valued at approximately $97,099,000 after adding 1,621,772 shares. Similarly, Shah Capital Management raised its positions by 19.0%, acquiring a total of 9,662,090 shares worth about $122,322,000. Other notable movements include Renaissance Technologies LLC taking a new position valued at $14,055,000 during the second quarter, and SG Americas Securities LLC increasing its holdings by an extraordinary 940.7% during the third quarter, now controlling 1,154,276 shares valued at $14,579,000. Overall, institutional investors collectively hold about 53.04% of the company’s stock.

About Novavax

Novavax, Inc. is a biotechnology company focused on enhancing health by discovering, developing, and commercializing vaccines to combat serious infectious diseases. Its innovative vaccine platform utilizes recombinant protein technology combined with nanoparticle innovation and the patented Matrix-M adjuvant to boost immune responses.

Insider, Selling, Shares