On planet Earth, what comes up must come down, according to both the laws of physics and Novavax (NASDAQ: NVAX) investors. After rising nicely in price for most of the week, the vaccine developer's share price took a nearly 8% tumble on Friday, with a new and bearish analyst take on the company spoiling the party.

The analyst in question was B. Riley's Mayank Mamtani, who enacted a fairly steep price target cut on Novavax shares. He now thinks the stock is worth only $83 per share, quite a change from his previous level of $126. Despite this drastic reduction, Mamtani still has plenty of hope for the biotech, as he's maintaining his buy recommendation on the shares.

It wasn't immediately clear why the B. Riley analyst made his move, but regardless, it adds even more motion to a persistently up-and-down stock. Novavax's Nuvaxovid, a protein-based coronavirus vaccine, keeps racking up wins with authorizations by numerous healthcare regulators -- including, crucially, the U.S. Food and Drug Administration.

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Source Fool.com