Novavax (NASDAQ:NVAX) Trading Up 5.6% – What’s Next?

Novavax, Inc. (NASDAQ:NVAX)’s stock price shot up 5.6% on Friday . The stock traded as high as $8.50 and last traded at $8.36. 4,877,061 shares changed hands during trading, an increase of 16% from the average session volume of 4,197,495 shares. The stock had previously closed at $7.92.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.83.

Novavax Price Performance

The firm’s fifty day simple moving average is $8.68 and its 200 day simple moving average is $10.14. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -3.54, a PEG ratio of 2.88 and a beta of 2.14.

Insider Transactions at Novavax

In other news, Director James F. Young sold 5,400 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total value of $43,200.00. Following the completion of the sale, the director now directly owns 51,760 shares of the company’s stock, valued at $414,080. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rachel K. King sold 4,150 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $9.02, for a total transaction of $37,433.00. Following the completion of the sale, the director now directly owns 14,770 shares of the company’s stock, valued at $133,225.40. This trade represents a 21.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,150 shares of company stock valued at $119,641 over the last three months. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Novavax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new position in Novavax during the fourth quarter valued at approximately $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Novavax by 19.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 268,684 shares of the biopharmaceutical company’s stock valued at $2,160,000 after acquiring an additional 44,359 shares in the last quarter. Twinbeech Capital LP bought a new position in Novavax during the fourth quarter valued at approximately $555,000. Sanofi bought a new position in Novavax during the fourth quarter valued at approximately $55,319,000. Finally, ProShare Advisors LLC raised its position in Novavax by 45.1% during the fourth quarter. ProShare Advisors LLC now owns 70,988 shares of the biopharmaceutical company’s stock valued at $571,000 after acquiring an additional 22,051 shares in the last quarter. Institutional investors own 53.04% of the company’s stock.

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.