BofA Notes Positive Interest in Novavax, Inc. (NVAX) Technology Despite Timing Concerns for Licensed Assets

Core Insights - Novavax, Inc. is recognized as a high growth small-cap stock, ranking second on a recent list of profitable high growth stocks [1] - Bank of America (BofA) raised its price target for Novavax to $7 from $6 while maintaining an Underperform rating, following a licensing deal with Pfizer for its Matrix-M adjuvant [2] - Despite the positive interest indicated by the licensing agreement, BofA remains cautious about the timing of development for the licensed assets [2] - Unusually strong bullish options activity was observed for Novavax, with call trading at three times normal levels and implied volatility increasing to above 71% [3] - Novavax is focused on developing vaccines for serious infectious diseases, including COVID-19 and influenza, utilizing its recombinant protein platform and Matrix-M adjuvant [4]