Fintel reports that on November 17, 2023, Guggenheim initiated coverage of Icosavax (NASDAQ:ICVX) with a Buy recommendation.
Analyst Price Forecast Suggests 111.74% Upside
As of November 1, 2023, the average one-year price target for Icosavax is 23.80. The forecasts range from a low of 15.15 to a high of $31.50. The average price target represents an increase of 111.74% from its latest reported closing price of 11.24.
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The projected annual revenue for Icosavax is 5MM, an increase of ∞%. The projected annual non-GAAP EPS is -2.18.
What is the Fund Sentiment?
There are 183 funds or institutions reporting positions in Icosavax. This is a decrease of 2 owner(s) or 1.08% in the last quarter. Average portfolio weight of all funds dedicated to ICVX is 0.31%, an increase of 5.78%. Total shares owned by institutions increased in the last three months by 4.73% to 45,626K shares. 
The put/call ratio of ICVX is 0.37, indicating a bullish outlook.
What are Other Shareholders Doing?
Ra Capital Management holds 5,964K shares representing 11.91% ownership of the company. No change in the last quarter.
T. Rowe Price Investment Management holds 4,836K shares representing 9.65% ownership of the company. In it's prior filing, the firm reported owning 4,935K shares, representing a decrease of 2.06%. The firm decreased its portfolio allocation in ICVX by 20.64% over the last quarter.
TCG Crossover Management holds 3,704K shares representing 7.39% ownership of the company. No change in the last quarter.
Qiming U.S. Ventures Management holds 3,510K shares representing 7.01% ownership of the company. No change in the last quarter.
Logos Global Management holds 2,766K shares representing 5.52% ownership of the company. In it's prior filing, the firm reported owning 2,166K shares, representing an increase of 21.69%. The firm decreased its portfolio allocation in ICVX by 2.24% over the last quarter.
Icosavax Background Information
(This description is provided by the company.)
Icosavax is a biopharmaceutical company leveraging its innovative VLP platform technology to develop vaccines against infectious diseases, with an initial focus on life-threatening respiratory diseases. Icosavax’s VLP platform technology is designed to enable multivalent, particle-based display of complex viral antigens, which it believes will induce broad, robust, and durable protection against the specific viruses targeted. Icosavax’s pipeline includes vaccine candidates targeting respiratory syncytial virus (RSV), human metapneumovirus (hMPV), and severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). Icosavax was formed in 2017 to advance the breakthrough VLP technology from the Institute for Protein Design at the University of Washington with the goal to discover, develop, and commercialize vaccines against infectious diseases. Icosavax exclusively licensed the VLP technology for use in several fields, including RSV and hMPV, from the University of Washington. For SARS-CoV-2, Icosavax has a non-exclusive, worldwide (excluding South Korea) license from the University of Washington that will convert to an exclusive license in North America and Europe in 2025. Icosavax is located in Seattle.
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