Selling Buzz: Novavax Inc. [NVAX] Director YOUNG JAMES F sells 12,500 shares of the company

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Novavax Inc. shares valued at $919,765 were sold by YOUNG JAMES F on Mar 31. At $73.58 per share, YOUNG JAMES F sold 12,500 shares. The insider’s holdings dropped to 62,590 shares worth approximately $1.4 million following the completion of this transaction.

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Also, Herrmann John A III sold 5,000 shares, netting a total of over 704,534 in proceeds. Following the sale of shares at $140.91 each, the insider now holds 3,845 shares.

Before that, YOUNG JAMES F had sold 3,750 shares from its account. In a trade valued at $540,601, the Director traded Novavax Inc. shares for $144.16 each. Upon closing the transaction, the insider’s holdings decreased to 3,750 shares, worth approximately $1.69 million.

As published in a research note from JP Morgan on September 22, 2022, Novavax Inc. [NVAX] has been rated down from a Neutral to an Underweight and the price target has been revised to $27 from $132. This represents a 16.89% premium over Thursday’s closing price. Analysts at BofA Securities started covering the stock with ‘”an Underperform”‘ outlook in a report released in mid May. As of February 23, 2022, B. Riley Securities has reiterated its “Buy” rating for NVAX.

Analyzing NVAX’s Price Performance

On Thursday, Novavax Inc. [NASDAQ: NVAX] plunged -13.26% to $22.44. The stock’s lowest price that day was $21.81, but it reached a high of $24.65 in the same session. During the last five days, there has been a drop of approximately -31.06%. Over the course of the year, Novavax Inc. shares have dropped approximately -84.32%. Shares of the company reached a 52-week high of $145.20 on 01/03/22 and a 52-week low of $21.81 on 09/22/22. A 50-day SMA is recorded $42.32, while a 200-day SMA reached $73.22. Nevertheless, trading volume fell to 10.69 million shares from 3.07 million shares the previous day.

Support And Resistance Levels for Novavax Inc. (NVAX)

According to the 24-hour chart, there is a support level at 21.28, which, if violated, would cause prices to drop to 20.13. In the upper region, resistance lies at 24.12. The next price resistance is at 25.81. RSI (Relative Strength Index) is 25.82 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.39, which suggests the price will decrease in the coming days. Percent R is at 94.55%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Novavax Inc. subject to short interest?

Stocks of Novavax Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.74 million shares to 14.99 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 15.73 million shares. A decline of -4.94% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.91 of the overall float, the days-to-cover ratio (short ratio) decline to 1.91.

Which companies own the most shares of Novavax Inc. (NVAX)?

According to The Vanguard Group, Inc. filings, the company currently owns 7,241,530 shares, which is about 9.26% of the total NVAX shares outstanding. The investor’s shares have appreciated by 372,646 from its previous 13-F filing of 6868884.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $120,783,072. SSgA Funds Management, Inc. acquire a 18.89% interest valued at $98.03 million while Coatue Management LLC purchased a 358,270 stake. A total of 813,121 shares of Novavax Inc. were bought by Citigroup Global Markets, Inc. during the quarter, and 403,626 were bought by Morgan Stanley & Co. LLC. In its current portfolio, Geode Capital Management LLC holds 1,022,596 shares valued at $33.79 million.

In terms of Novavax Inc. share price expectations, FactSet research, analysts set an average price target of $105.83 in the next 12 months, up nearly 356.13% from the previous closing price of $25.87. Analysts anticipate Novavax Inc. stock to reach $207.00 by 2022, with the lowest price target being $20.00. In spite of this, 8 analysts ranked Novavax Inc. stock as an Overweight at the end of 2022. On January 21, 2022, Cowen assigned a price target of “an Outperform” to the stock and initiated coverage with a $150.


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