Novavax.. No Blue Horseshoe, No Love (NVAX)

Posted in General 
September 2nd, 2009

Novavax Inc. (NASDAQ: NVAX) is getting spanked this morning. The swine flu stock and flu stock is trading lower after Oppenheimer & Co. downgraded the biotechnology company after shares went above and beyond the firm;s $6.00 price target.  The rating is now “Perform” rather than “Outperform” as before.   At the 9:30 Opening Bell NVAX is down over 7% at $6.13 and we are now seeing 1 million shares already traded including the first minute and including pre-market trading.  Average volume is now over 7 million shares, but this is the first such downgrade we have seen in this and other swine flu stocks.

OTHER SWINE FLU or FLU STOCK TICKERS ARE AS FOLLOWS: BCRX, CRIS, NKTR, OGXI, SCLN, SVA, SPPI, TRGT, VICL.

JON OGG

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