HilleVax downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright downgraded HilleVax to Neutral from Buy with a price target of $2, down from $28. The company announced misses across endpoints for the Phase 2B NEST-IN1 infant trial, assessing virus-like particle vaccine candidate HIL-214 in development for the prevention of moderate-to-severe acute gastroenteritis related to norovirus infection, the analyst tells investors in a research note. The firm downgraded the shares pending further clarity on the near-term future of HilleVax’s norovirus vaccine platform.