Novavax (NASDAQ:NVAX) Stock Price Up 5.6% – Here’s Why

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

Analysts Set New Price Targets

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

Novavax Trading Up 0.9 %

The company has a market capitalization of $1.28 billion, a PE ratio of -3.54, a P/E/G ratio of 2.85 and a beta of 2.14. The stock has a fifty day simple moving average of $8.65 and a 200-day simple moving average of $10.11.

Insider Activity

In other Novavax news, Director Rachel K. King sold 4,150 shares of the company’s 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 represents a 21.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James F. Young sold 5,400 shares of the company’s 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 sale, the director now directly owns 51,760 shares of the company’s stock, valued at approximately $414,080. This represents a 9.45 % 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 valued at $119,641. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Novavax

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVAX. GF Fund Management CO. LTD. acquired a new position in Novavax during the 4th quarter worth approximately $27,000. Spire Wealth Management acquired a new stake in shares of Novavax in the 4th quarter worth approximately $29,000. New Age Alpha Advisors LLC acquired a new stake in shares of Novavax in the 4th quarter worth approximately $35,000. KBC Group NV grew its holdings in shares of Novavax by 97.0% in the 4th quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 3,917 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Novavax by 38.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,598 shares during the period. Institutional investors and hedge funds 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.