HilleVax downgraded to Neutral from Buy at Guggenheim

Guggenheim downgraded HilleVax to Neutral from Buy and removed the firm’s price target following the “extremely disappointing results” from the event-driven Phase 2 pediatric study. With just a 5% VE separation and the pediatric opportunity being core to the firm’s thesis, the firm expects shares to trade at or below cash for the foreseeable future, the analyst tells investors.