Guggenheim Initiates Coverage on Icosavax (NASDAQ:ICVX)

Guggenheim assumed coverage on shares of Icosavax (NASDAQ:ICVX) in a research note issued to investors on Friday, Briefing.com reports. The firm set a “buy” rating and a $28.00 price target on the stock. Guggenheim’s price target indicates a potential upside of 200.75% from the company’s current price.

ICVX has been the topic of several other reports. Oppenheimer reiterated an “outperform” rating and set a $25.00 target price on shares of Icosavax in a report on Monday, October 2nd. William Blair reiterated an “outperform” rating on shares of Icosavax in a research note on Wednesday.

Icosavax Stock Up 0.1 %

Shares of NASDAQ:ICVX opened at $9.31 on Friday. The business’s 50 day moving average is $7.21 and its 200 day moving average is $8.20. The stock has a market cap of $465.97 million, a P/E ratio of -4.19 and a beta of 0.45. Icosavax has a 52-week low of $2.29 and a 52-week high of $16.45.

Icosavax (NASDAQ:ICVX) last announced its quarterly earnings results on Monday, August 14th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.01. On average, sell-side analysts anticipate that Icosavax will post -2.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Icosavax

Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new position in Icosavax in the third quarter worth about $199,000. Northern Trust Corp raised its stake in shares of Icosavax by 11.8% during the 3rd quarter. Northern Trust Corp now owns 271,609 shares of the company’s stock worth $2,105,000 after acquiring an additional 28,686 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Icosavax during the 3rd quarter worth approximately $29,000. UBS Group AG boosted its stake in Icosavax by 97.6% in the third quarter. UBS Group AG now owns 14,544 shares of the company’s stock valued at $113,000 after acquiring an additional 7,183 shares in the last quarter. Finally, Barclays PLC boosted its stake in Icosavax by 3,589.5% in the third quarter. Barclays PLC now owns 202,182 shares of the company’s stock valued at $1,567,000 after acquiring an additional 196,702 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

About Icosavax

Icosavax, Inc, a biopharmaceutical company, develops vaccines against infectious diseases through virus-like particle (VLP) platform technology. Its lead product candidate IVX-A12, a respiratory syncytial virus (RSV) and human metapneumovirus (hMPV) VLP vaccine. The company also develops IVX-121, a vaccine candidate with RSV target and is under Phase 1/1b clinical trial; and IVX-241, a vaccine candidate with hMPV target.