Why Novavax Is Moving Today

Novavax, Inc. NVAX shares are trading lower by 3.7% at $133.05 after JPMorgan downgraded the stock from Overweight to Neutral and lowered its price target from $285 to $161 per share.

Novavax is a biotechnology company that develops vaccines. The company works in the clinical stage of development with a focus on delivering novel products that prevent a broad range of diseases. Novavax works together with its wholly-owned Swedish subsidiary to produce vaccine candidates to respond to both known and emerging disease threats.