James F. Young, a director at Novavax Inc. (NASDAQ:NVAX), recently sold shares of the company's common stock, according to a filing with the Securities and Exchange Commission. On December 24 and December 31, Young sold a total of 10,000 shares, with the transactions executed at prices ranging from $8.00 to $8.48 per share. The total value of these sales amounted to $82,208. Following these transactions, Young holds 51,760 shares of Novavax. The stock, currently trading at $8.57, has shown significant volatility, with a 52-week range of $3.53 to $23.86. According to InvestingPro analysis, Novavax appears undervalued at current levels, with analyst price targets ranging from $9 to $25.Want deeper insights? InvestingPro subscribers have access to 8 additional key insights about Novavax, including detailed financial health metrics and expert analysis in the comprehensive Pro Research Report.
In other recent news, Novavax has been active in several significant developments. The biotechnology company completed the sale of its manufacturing campus in the Czech Republic to Novo Nordisk (NYSE:NVO) for $200 million, aligning with strategic initiatives to streamline operations. Additionally, Novavax 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 also achieved a $50M milestone in its partnership with Sanofi (EPA:SASY) (NASDAQ:SNY), related to the progress of its COVID-19 vaccine for children. Analysts from B.Riley and H.C. Wainwright have updated their outlook on Novavax, both maintaining a Buy rating but with B.Riley reducing its price target.
Furthermore, Novavax has initiated Phase 3 trials for its COVID-19-Influenza Combination (CIC) vaccine and a stand-alone seasonal influenza vaccine. The company is also in discussions with the FDA regarding potential accelerated approval for these vaccines. H.C. Wainwright reiterated a Buy rating and a $19.00 price target on Novavax, expressing optimism about the potential of the randomized Phase 3 trial.
In its third-quarter earnings report, Novavax revealed a decrease in revenues to $85M, down from $187M in the same quarter of the previous year. These are the recent developments in Novavax's ongoing efforts to remain competitive in the vaccine market.
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