HilleVax stock jumps 11% following four analyst buy ratings

May 24, 2022 1:25 PM ETHLVXBy: Val Kennedy, SA News Editor

Initial public offering hologram, night panoramic city view of Bangkok. The financial center for multinational corporations in Asia. The concept of boosting the growth by IPO process. Double exposure.

2d illustrations and photos/iStock via Getty Images

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”.

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