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Why Novavax Stock Sank Again on Tuesday

Why Novavax Stock Sank Again on Tuesday

It's only Tuesday, but Novavax (NASDAQ: NVAX) is already having an ugly week. After its stock sank on Monday despite a not-bad first-quarter earnings report, on Tuesday, it was hit by an analyst's price target cut and the shares plummeted again, closing the session almost 14% lower. In his new research note, Jefferies (NYSE: JEF) prognosticator Kelechi Chikere sliced his price target on Novavax stock from $310 to $235.