Icosavax (NASDAQ:ICVX) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Icosavax (NASDAQ:ICVXGet Rating) from a sell rating to a hold rating in a research note issued to investors 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. “

NASDAQ:ICVX opened at $10.23 on Tuesday. Icosavax has a 1 year low of $4.00 and a 1 year high of $49.99. The firm’s fifty day simple moving average is $8.42 and its 200 day simple moving average is $15.80. The firm has a market capitalization of $406.44 million and a PE ratio of -1.96.

Icosavax (NASDAQ:ICVXGet Rating) last issued its quarterly earnings results on Wednesday, March 30th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). Icosavax had a negative net margin of 1,326.23% and a negative return on equity of 42.81%. The company had revenue of $2.07 million during the quarter, compared to the consensus estimate of $1.80 million. Equities analysts anticipate that Icosavax will post -2.26 EPS for the current fiscal year.

In other news, insider Cassia Cearley sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $17.16, for a total transaction of $171,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Mcdade acquired 42,225 shares of Icosavax stock in a transaction dated Friday, April 1st. The shares were acquired at an average cost of $7.10 per share, with a total value of $299,797.50. Following the completion of the acquisition, the director now directly owns 50,243 shares in the company, valued at approximately $356,725.30. The disclosure for this purchase can be found here.

Several large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Icosavax by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,732 shares of the company’s stock worth $772,000 after acquiring an additional 975 shares during the period. Royal Bank of Canada bought a new position in Icosavax during the 3rd quarter valued at about $44,000. Citigroup Inc. bought a new position in Icosavax during the 3rd quarter valued at about $45,000. Swiss National Bank lifted its holdings in Icosavax by 6.1% during the 1st quarter. Swiss National Bank now owns 27,700 shares of the company’s stock valued at $195,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Icosavax by 161.2% during the 4th quarter. Bank of America Corp DE now owns 3,594 shares of the company’s stock valued at $82,000 after purchasing an additional 2,218 shares during the last quarter. 79.43% of the stock is owned by 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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