Icosavax (NASDAQ:ICVX) Lowered to “Sell” at Zacks Investment Research

Icosavax (NASDAQ:ICVXGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Icosavax Inc. is a biopharmaceutical company which focuses on life-threatening respiratory diseases. The company’s virus-like particle platform technology involved in developing vaccines against infectious diseases. Icosavax Inc. is based in SEATTLE. “

ICVX traded up $0.67 during mid-day trading on Tuesday, reaching $6.88. The stock had a trading volume of 263,211 shares, compared to its average volume of 303,514. The stock has a market capitalization of $273.34 million and a P/E ratio of -1.32. The firm’s fifty day simple moving average is $8.00 and its two-hundred day simple moving average is $14.74. Icosavax has a 52 week low of $4.00 and a 52 week high of $49.99.

Icosavax (NASDAQ:ICVXGet Rating) last announced its quarterly earnings data on Monday, May 16th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.11). The firm had revenue of $0.58 million during the quarter, compared to the consensus estimate of $2.20 million. Icosavax had a negative net margin of 1,326.23% and a negative return on equity of 42.81%. On average, equities analysts expect that Icosavax will post -2.26 earnings per share for the current fiscal year.

In other Icosavax news, Director Ra Capital Management, L.P. bought 175,318 shares of Icosavax stock in a transaction on Monday, March 28th. The shares were purchased at an average cost of $4.53 per share, for a total transaction of $794,190.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Mcdade bought 42,225 shares of Icosavax stock in a transaction on Friday, April 1st. The shares were acquired at an average price of $7.10 per share, for a total transaction of $299,797.50. Following the completion of the acquisition, the director now owns 50,243 shares of the company’s stock, valued at approximately $356,725.30. The disclosure for this purchase can be found here.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. raised its stake in shares of Icosavax by 3.2% in the 1st quarter. RA Capital Management L.P. now owns 5,963,565 shares of the company’s stock valued at $41,983,000 after purchasing an additional 184,218 shares during the period. NanoDimension Inc. acquired a new stake in shares of Icosavax in the fourth quarter valued at about $62,920,000. Perceptive Advisors LLC acquired a new stake in shares of Icosavax in the third quarter valued at about $56,888,000. Viking Global Investors LP acquired a new stake in shares of Icosavax in the third quarter valued at about $54,824,000. Finally, BlackRock Inc. increased its position in shares of Icosavax by 2.3% in the fourth quarter. BlackRock Inc. now owns 1,614,378 shares of the company’s stock valued at $36,935,000 after acquiring an additional 37,008 shares during the last quarter. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

About Icosavax (Get Rating)

Icosavax, Inc, a biopharmaceutical company, develops vaccines against infectious diseases. The company, with the help of its virus-like particle (VLP) platform technology, focuses primarily on life-threatening respiratory diseases. Its products in pipeline include IVX-121, a vaccine candidate with RSV target and is under Phase 1/1b clinical trial; IVX-A12, a respiratory syncytial virus (RSV) monovalent antigen candidate with RSV/human metapneumovirus (hMPV) bivalent target indication; IVX-241, a vaccine candidate with hMPV target; and IVX-411, an original receptor binding domain (RBD) sequence antigen with SARS-CoV-2 target indication and is under Phase 1/2 clinical trial.

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