Shares of Novavax (NVAX) plunged 5.01% in Friday's intraday trading session, following a bearish analyst report from Bank of America Securities. The significant drop comes as investors react to the reiterated Sell rating and a low price target for the biotechnology company.

Bank of America Securities analyst Alec Stranahan maintained a Sell rating on Novavax and set a price target of $7.00. This bearish stance from a major financial institution has likely triggered a wave of selling pressure on the stock. The analyst's low price target suggests limited upside potential and potential risks associated with the company's current valuation.

The reaffirmation of the Sell rating could signal ongoing concerns about Novavax's business prospects, financial performance, or market position. Investors may be reassessing their positions in light of this analyst report, potentially leading to further volatility in Novavax's stock price in the near term. As the market digests this information, it will be crucial to monitor any additional analyst opinions or company updates that could influence the stock's trajectory.