Novavax (NASDAQ:NVAX) Stock Price Down 8.8% – Should You Sell?

Shares of Novavax, Inc. (NASDAQ:NVAX) traded down 8.8% during trading on Monday . The stock traded as low as $7.32 and last traded at $7.29. 2,424,248 shares changed hands during trading, a decline of 44% from the average session 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 report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.83.

Novavax Price Performance

The company has a 50 day moving average price of $8.65 and a 200-day moving average price of $10.10. The stock has a market capitalization of $1.21 billion, a PE ratio of -3.36, a PEG ratio of 2.85 and a beta of 2.14.

Insider Buying and Selling

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

Hedge Funds Weigh In On Novavax

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sanofi bought a new stake in shares of Novavax in the 4th quarter worth approximately $55,319,000. Deep Track Capital LP purchased a new position in Novavax during the fourth quarter valued at $16,080,000. State Street Corp boosted its holdings in Novavax by 26.7% in the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after acquiring an additional 1,621,772 shares in the last quarter. Shah Capital Management grew its stake in shares of Novavax by 13.6% in the fourth quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company’s stock worth $89,637,000 after acquiring an additional 1,333,305 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of Novavax by 48.9% during the third quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock valued at $25,252,000 after acquiring an additional 656,900 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.