Why Novavax Fell by Over 4% Today

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Novavax (NASDAQ: NVAX) stumbled on Monday, with the stock declining by 4.4%. The key reason for the coronavirus vaccine developer’s decline seems to be a set of company stock sales reported for top insiders earlier in the day.

Citing regulatory filings, Reuters reported that the biotech’s CEO, Stanley Erck, and “three lieutenants” it did not name have sold around $46 million worth of Novavax stock since the beginning of 2020.

Image source: Getty Images.

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