Rachel K. King, Director at Novavax Inch. (NASDAQ:), recently sold 4,150 shares of the company’s common stock. The shares were sold at an average price of $9.0205 each, for a total of approximately $37,435. Following this transaction, King now directly holds 14,770 shares. The sale was completed on December 13, 2024, according to the most recent SEC filing. The transaction comes amid significant stock volatility, with NVAX shares down 38% over the past six months. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available through their comprehensive Pro Research Report. According to InvestingProwhich offers 8+ additional expert advice on NVAX, the company has a market cap of $1.36 billion.
In other recent news, Novavax has made some significant moves. The biotech company has finalized the sale of its manufacturing campus in the Czech Republic to Novo Nordisk (NYSE: ) for $200 million. Novavax also adjusted its vaccine supply contract with the Australian government, acknowledging the cancellation of certain doses of the COVID-19 vaccine and extending the delivery schedule to 2029.
The company hit a $50 million milestone in its partnership with Sanofi (NASDAQ: ), in connection with the development of a vaccine against COVID-19 for children. Additionally, Novavax has initiated Phase 3 trials for its COVID-19-influenza Combination (CIC) vaccine and a stand-alone seasonal influenza vaccine.
Analysts at B.Riley and HC Wainwright maintained their buy ratings on Novavax, and B.Riley cut their price target. The company’s third-quarter earnings report revealed a drop in revenue to $85 million, down from $187 million in the same quarter a year earlier. These are the latest developments in Novavax’s ongoing efforts to remain competitive in the vaccine market.
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