Down 60% From Its 52-Week High, Is Novavax Stock a Buy?

In just the past 12 months, Novavax (NASDAQ: NVAX) stock has plummeted 48% in value. The once-promising COVID vaccine maker has struggled mightily; it was late to getting a vaccine approved and to market, and now with some concerns relating to COVID subsiding, its near-term prospects haven't been looking good, either.

But with the healthcare stock down more than 60% from its 52-week high of $11.36 and at a market cap of around $620 million, has the stock become cheap enough that it's worth it for investors to take a chance on the company?

Novavax has an approved COVID-19 vaccine and it's bullish on a combination flu and COVID-19 shot, which is currently in phase 2 trials. It may enter phase 3 trials in the latter half of this year, with a launch possible by 2026. Other vaccine makers, including Pfizer and Moderna, have also been developing their own combination vaccines to treat both the flu and COVID, so there's sure to be plenty of competition for Novavax.

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Source Fool.com