Novavax, Inc. (NASDAQ:NVAX) Receives $17.83 Average Price Target from Brokerages

Novavax, Inc. (NASDAQ:NVAX) has received an average rating of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.83.

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

Novavax Stock Up 0.7 %

Shares of NVAX stock opened at $8.25 on Wednesday. The business has a 50-day moving average price of $8.72 and a two-hundred day moving average price of $10.20. Novavax has a 12-month low of $3.81 and a 12-month high of $23.86. The firm has a market cap of $1.32 billion, a P/E ratio of -3.65, a price-to-earnings-growth ratio of 63.06 and a beta of 2.14.

Insider Activity

In related news, Director James F. Young sold 4,600 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $8.48, for a total transaction of $39,008.00. Following the transaction, the director now directly owns 57,160 shares in the company, valued at $484,716.80. This trade represents a 7.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rachel K. King sold 4,150 shares of Novavax stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $9.02, for a total value of $37,433.00. Following the completion of the transaction, the director now directly owns 14,770 shares in the company, 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 three months, insiders have sold 14,150 shares of company stock valued at $119,641. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Novavax

Several institutional investors have recently added to or reduced their stakes in the company. Spire Wealth Management bought a new position in shares of Novavax during the fourth quarter valued at about $29,000. New Age Alpha Advisors LLC purchased a new position in Novavax during the 4th quarter valued at about $35,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 buying an additional 1,598 shares during the period. KBC Group NV grew its position 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 buying an additional 3,917 shares during the last quarter. Finally, TigerOak Management L.L.C. purchased a new position in shares of Novavax during the fourth quarter valued at approximately $86,000. Hedge funds and other institutional investors own 53.04% of the company’s stock.

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.