Why Novavax Stock Is Sliding Today

Shares of Novavax (NASDAQ: NVAX) were sliding 4.3% lower as of 10:09 a.m. EDT on Friday after falling as much as 7.6% earlier in the day. The decline appears to be related to B. Riley Securities analyst Mayank Mamtani's lowering of the one-year price target for the stock from $257 to $223 yesterday. Some investors could also be reacting negatively to President Trump's omission of Novavax when he referred to several leaders in the coronavirus vaccine race during the presidential debate Thursday evening.

What should investors' response be to Novavax's drop today? Nothing. Whatever your view of Novavax was earlier this week, nothing has changed fundamentally for the company.

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Source Fool.com