Novavax, Inc. (NASDAQ:NVAX) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX) have earned an average recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $17.83.

Separately, HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research note on Tuesday, December 10th.

Novavax Price Performance

Shares of NASDAQ NVAX opened at $8.19 on Wednesday. Novavax has a 1 year low of $3.81 and a 1 year high of $23.86. The firm has a 50-day moving average of $8.74 and a 200 day moving average of $10.23. The stock has a market cap of $1.31 billion, a P/E ratio of -3.62, a price-to-earnings-growth ratio of 63.06 and a beta of 2.14.

Insider Activity 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 transaction, the director now owns 51,760 shares in the company, valued at $414,080. This represents a 9.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rachel K. King sold 4,150 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $9.02, for a total transaction of $37,433.00. Following the sale, the director now 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. Over the last 90 days, insiders sold 14,150 shares of company stock worth $119,641. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Novavax

Several institutional investors and hedge funds have recently bought and sold shares of NVAX. Spire Wealth Management bought a new position in shares of Novavax in the fourth quarter worth about $29,000. New Age Alpha Advisors LLC purchased a new stake in Novavax in the 4th quarter worth approximately $35,000. KBC Group NV lifted its holdings in Novavax by 97.0% during the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 3,917 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,598 shares during the period. Finally, TigerOak Management L.L.C. purchased a new stake in shares of Novavax in the fourth quarter worth $86,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

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.