This trade activity should not be overlooked: Icosavax Inc. (ICVX)

Icosavax Inc. (NASDAQ: ICVX) stock jumped 1.92% on Friday to $7.45 against a previous-day closing price of $7.31. With 1.58 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.21 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $7.47 whereas the lowest price it dropped to was $7.04. The 52-week range on ICVX shows that it touched its highest point at $16.45 and its lowest point at $2.28 during that stretch. It currently has a 1-year price target of $23.33. Beta for the stock currently stands at 0.39.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ICVX was up-trending over the past week, with a rise of 0.27%, but this was up by 2.19% over a month. Three-month performance dropped to -17.22% while six-month performance rose 6.43%. The stock gained 64.46% in the past year, while it has lost -6.17% so far this year. A look at the trailing 12-month EPS for ICVX yields -2.33 with Next year EPS estimates of -2.35. For the next quarter, that number is -0.58. This implies an EPS growth rate of 38.00% for this year and 1.70% for next year.

Float and Shares Shorts:

At present, 50.05 million ICVX shares are outstanding with a float of 46.06 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.08 million, which was 2.15% higher than short shares on Jul 30, 2023. In addition to Mr. Adam K. Simpson as the firm’s Pres, CEO, Co-Founder & Director, Mr. Niranjan Kanesa-thasan M.D. serves as its Chief Medical Officer.

Institutional Ownership:

Through their ownership of 71.74% of ICVX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 36.08% of ICVX, in contrast to 27.02% held by mutual funds. Shares owned by individuals account for 23.18%. As the largest shareholder in ICVX with 13.37% of the stake, Fidelity Management & Research Co holds 6,692,846 shares worth 6,692,846. A second-largest stockholder of ICVX, RA Capital Management LP, holds 5,963,565 shares, controlling over 11.92% of the firm’s shares. T. Rowe Price Investment Manageme is the third largest shareholder in ICVX, holding 4,935,120 shares or 9.86% stake. With a 3.47% stake in ICVX, the Fidelity Advisor Series I -Growth is the largest stakeholder. A total of 1,734,129 shares are owned by the mutual fund manager. The T Rowe Price Small Cap Value Fund, which owns about 3.17% of ICVX stock, is the second-largest Mutual Fund holder. It holds 1,585,455 shares valued at 12.27 million. Fidelity Advisor Series VII – Bio holds 3.14% of the stake in ICVX, owning 1,572,165 shares worth 12.17 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ICVX reported revenue of $0.00 and operating income of -$23.13M. The EBITDA in the recently reported quarter was -$23.08M and diluted EPS was -$0.57.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ICVX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ICVX analysts setting a high price target of $30.00 and a low target of $15.00, the average target price over the next 12 months is $23.33. Based on these targets, ICVX could surge 302.68% to reach the target high and rise by 101.34% to reach the target low. Reaching the average price target will result in a growth of 213.15% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded ICVX stock several times over the past three months with 2 Buys and 6 Sells. In these transactions, 19,356 shares were bought while 36,421 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 103,020 while 181,931 shares were sold.

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