Why Novavax Stock Is Plunging This Week

Motley Fool2022-09-23

What happenedShares of Novavax were plunging 26.3% this week as of the market close on Thursday, according to data provided by S&P Global Market Intelligence. Two factors contributed to the dismal ...

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Comments

Ironbark
2022-09-23
Ironbark
Nova vax needs to expand its repertoire
DarkFate
2022-09-23
DarkFate
Like
- atsc:
  Ok
YKEN
2022-09-23
YKEN
Ok
- Ichua:
  Ok

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Two factors contributed to the dismal ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/09/22/why-novavax-stock-is-plunging-this-week/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NVAX","symbol_name":"诺瓦瓦克斯医药","start_time":0,"source_url":"https://www.fool.com/investing/2022/09/22/why-novavax-stock-is-plunging-this-week/","article_id":"2269741411","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2269741411","pubTimestamp":1663900456,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"Novavax has some serious short-term challenges but could still have growth opportunities in the future.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NVAX":"诺瓦瓦克斯医药"},"translate_title":"为什么Novavax股票本周暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVAX":1},"content_text":"What happenedShares of Novavax were plunging 26.3% this week as of the market close on Thursday, according to data provided by S&P Global Market Intelligence. Two factors contributed to the dismal performance.First, the overall stock market tumbled as investors fretted over the Federal Reserve's latest interest rate hike. This move weighed on most stocks. Novavax wasn't an exception.Second, JPMorgan Chase analyst Eric Joseph downgraded the vaccine stock from neutral to overweight (meaning: likely to do better in the future). Joseph also slashed his 12-month price target on Novavax from $132 to $27.So whatAnalysts don't always make the right calls with their ratings. However, there are legitimate reasons to be concerned about Novavax's near-term prospects. In particular, COVID-19 vaccinations have essentially flatlined in the U.S. The number of COVID-19 cases has declined. It's likely that the demand for Novavax's Nuvaxovid vaccine will be low.Perhaps the situation for Nuvaxovid will improve somewhat in Europe. The European Commission recently expanded the conditional market authorization for the vaccine to be used as a booster. However, Novavax still awaits U.S. authorization for the use of Nuvaxovid as a booster.Now whatNovavax hopes to file for authorization of its booster targeting the coronavirus omicron variant in the fourth quarter of this year. If there's another surge in COVID-19 cases this winter, it's possible that Novavax could win additional supply deals.Over the longer term, the market could shift to combination vaccines that provide protection against both COVID-19 and flu viruses. Novavax could be a leader in the combo market. 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