Rachel K. King, a director at Novavax Inc. (NASDAQ:NVAX), recently sold 4,150 shares of the company's common stock. The shares were sold at an average price of $9.0205 each, totaling approximately $37,435. Following this transaction, King now holds 14,770 shares directly. The sale was executed on December 13, 2024, according to the latest 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 InvestingPro, which offers 8+ additional expert tips for NVAX, the company's market capitalization stands at $1.36 billion.
In other recent news, Novavax has made several notable developments. The biotechnology company has finalized the sale of its manufacturing campus in the Czech Republic to Novo Nordisk (NYSE:NVO) for $200 million. Novavax also adjusted its vaccine supply agreement with the Australian government, acknowledging the cancellation of certain COVID-19 vaccine doses and extending the delivery schedule through 2029.
The company achieved a $50M milestone in its partnership with Sanofi (NASDAQ:SNY), related to the progress of its COVID-19 vaccine 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 from B.Riley and H.C. Wainwright have maintained their Buy ratings on Novavax, with B.Riley reducing its price target. The company's third-quarter earnings report revealed a decrease in revenues to $85M, down from $187M in the same quarter of the previous year. These are recent developments in Novavax's ongoing efforts to remain competitive in the vaccine market.
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