HilleVax (NASDAQ:HLVX) Stock Price Down 1.5% on Disappointing Earnings

HilleVax, Inc. (NASDAQ:HLVX) fell 1.5% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $1.85 and last traded at $1.91. 150,420 shares changed hands during trading, a decline of 66% from the average session volume of 440,025 shares. The stock had previously closed at $1.94.

The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.10).

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “neutral” rating and issued a $2.00 target price on shares of HilleVax in a report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.20.

Institutional Investors Weigh In On HilleVax

A number of large investors have recently made changes to their positions in HLVX. EntryPoint Capital LLC purchased a new position in HilleVax during the first quarter valued at approximately $80,000. Rhumbline Advisers grew its position in HilleVax by 27.0% during the second quarter. Rhumbline Advisers now owns 42,658 shares of the company’s stock valued at $617,000 after purchasing an additional 9,073 shares in the last quarter. Fred Alger Management LLC grew its position in HilleVax by 9.7% during the second quarter. Fred Alger Management LLC now owns 136,166 shares of the company’s stock valued at $1,969,000 after purchasing an additional 12,044 shares in the last quarter. Tidal Investments LLC purchased a new position in HilleVax during the first quarter valued at approximately $207,000. Finally, Maven Securities LTD purchased a new position in HilleVax during the second quarter valued at approximately $217,000. Institutional investors and hedge funds own 86.42% of the company’s stock.

HilleVax Stock Down 1.5 %

The stock’s 50-day moving average is $1.81 and its 200 day moving average is $6.32. The stock has a market capitalization of $95.09 million, a PE ratio of -0.56 and a beta of 0.78.

HilleVax Company Profile

HilleVax, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing novel vaccines in the United States. It develops HIL-214, a virus-like particle-based vaccine candidate for the prevention of moderate-to-severe acute gastroenteritis caused by norovirus infection. The company was formerly known as MokshaCo, Inc and changed its name to HilleVax, Inc in February 2021.