Novavax (NASDAQ:NVAX) Stock Price Down 8.8% – Time to Sell?

Shares of Novavax, Inc. (NASDAQ:NVAX) dropped 8.8% during mid-day trading on Monday . The company traded as low as $7.32 and last traded at $7.29. Approximately 2,424,248 shares were traded during trading, a decline of 44% from the average daily volume of 4,300,247 shares. The stock had previously closed at $7.99.

Analyst Ratings Changes

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

Novavax Trading Up 2.1 %

The firm’s 50 day moving average price is $8.58 and its 200-day moving average price is $10.04. The company has a market cap of $1.17 billion, a P/E ratio of -3.24, a price-to-earnings-growth ratio of 2.85 and a beta of 2.14.

Insider Activity at Novavax

In other news, Director Rachel K. King sold 4,150 shares of the firm’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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James F. Young sold 4,600 shares of Novavax stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $8.48, for a total transaction of $39,008.00. Following the completion of the sale, the director now owns 57,160 shares in the company, valued at $484,716.80. The trade was a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,150 shares of company stock worth $119,641. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Novavax

Institutional investors and hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Novavax in the 4th quarter valued at about $27,000. Spire Wealth Management acquired a new stake in Novavax in the 4th quarter valued at about $29,000. New Age Alpha Advisors LLC bought a new position in Novavax during the fourth quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Novavax by 38.1% during 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, KBC Group NV increased its position in Novavax by 97.0% during the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 3,917 shares during 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.