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Norovirus vaccine developer HilleVax (HLVX) saw its shares jump 11% in afternoon trading after four investment firms initiated coverage of the stock with buy ratings.
Shares of HLVX opened at $9.81. The stock recently changed hands at $10.51, up 11%, at approximately 1:00 p.m. ET.
Earlier Tuesday, Stifel and Guggenheim both initiated coverage of HLVX with buy ratings and price targets of $34 and $40, respectively. J.P. Morgan started coverage with an overweight rating and price target of $24, while SVB Leerink began coverage with an outperform rating and price target of $30.
HLVX held an upsized initial public offering on April 29, raising $200M.
Based in Boston, HilleVax (HLVX) has been developing a vaccine called HIL-214 for the prevention of moderate-to-severe acute gastroenteritis caused by norovirus infection. The company plans to begin Phase 2B testing of the product for babies in the second half of 2022.
For a more in-depth look at HilleVax (HLVX), check out SA contributor Donovan Jones’s “HilleVax Targets $100M IPO for Acute Gastroenteritis Vaccine”.