Novavax Gets First Sell Rating Since 2020. It’s Got a Covid Vaccine Problem, Analyst Says.

Novavax Gets First Sell Rating Since 2020. It’s Got a Covid Vaccine Problem, Analyst Says.
·2 min read

Novavax stock was dropping Friday after receiving a Sell-equivalent rating — the first since December 2020 and the only one from Wall Street. Bank of America Securities analyst Alec Stranahan initiated coverage of Novavax (ticker: NVAX ) at an Underperform rating on Friday, with a $35 price target. Despite the pullback, Stranahan sees room for the shares to trade lower still.