Evaxion Biotech Stock Target Lowered to $6 by Lake Street

Evaxion Biotech A/S (NASDAQ:EVAX) has faced significant stock price declines, with a 52-week drop of 87.79%, and recent trading at $2.40, down 2.24% from the previous close. Analysts have recently lowered their price targets, with Lake Street Capital slashing its target from $35 to $6, while HC Wainwright maintains a Buy rating with a $14 target. The company raised funds through an ADS offering, which is expected to extend its cash runway into mid-2026, enhancing investor confidence due to Merck's participation. Despite its struggles, investors are advised to consider key metrics such as a quick ratio of 2.80 and a significant institutional ownership of 11.04%. Evaxion is actively developing AI-powered immunotherapies, with several clinical trials underway for cancer treatments. Overall, the stock remains highly volatile, with recent trading volumes well below average.