Vaxart (NASDAQ:VXRT) Stock Passes Below Two Hundred Day Moving Average - Here's What Happened

Vaxart, Inc. (NASDAQ:VXRT - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.55 and traded as low as $0.55. Vaxart shares last traded at $0.56, with a volume of 2,676,938 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VXRT. B. Riley cut their price objective on Vaxart from $2.50 to $2.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Wall Street Zen upgraded Vaxart to a "hold" rating in a research note on Thursday, May 22nd.

Vaxart Trading Down 7.1%

The firm has a market capitalization of $112.90 million, a P/E ratio of -1.83 and a beta of 1.25. The company has a 50 day simple moving average of $0.46 and a two-hundred day simple moving average of $0.55.

Vaxart (NASDAQ:VXRT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Vaxart had a negative return on equity of 91.89% and a negative net margin of 122.63%. The business had revenue of $20.88 million during the quarter, compared to the consensus estimate of $2.85 million. On average, sell-side analysts expect that Vaxart, Inc. will post -0.39 EPS for the current fiscal year.

Insider Activity

In other news, insider Steven Lo bought 100,000 shares of the stock in a transaction dated Monday, May 19th. The stock was purchased at an average cost of $0.49 per share, for a total transaction of $49,000.00. Following the transaction, the insider now owns 100,000 shares of the company's stock, valued at $49,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Vaxart by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 2,601,139 shares of the biotechnology company's stock valued at $1,723,000 after acquiring an additional 57,911 shares during the last quarter. Silverarc Capital Management LLC boosted its position in shares of Vaxart by 7.8% during the 4th quarter. Silverarc Capital Management LLC now owns 1,077,782 shares of the biotechnology company's stock valued at $714,000 after acquiring an additional 77,782 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of Vaxart by 95.0% during the 4th quarter. Squarepoint Ops LLC now owns 516,798 shares of the biotechnology company's stock valued at $342,000 after acquiring an additional 251,789 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Vaxart by 276,364.7% during the 1st quarter. Jones Financial Companies Lllp now owns 478,284 shares of the biotechnology company's stock valued at $196,000 after acquiring an additional 478,111 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Vaxart during the 4th quarter valued at $129,000. 18.05% of the stock is currently owned by institutional investors.

Vaxart Company Profile

Vaxart, Inc, a clinical-stage biotechnology company, discovers and develops oral recombinant protein vaccines based on its proprietary oral vaccine platform. The company's product pipeline includes norovirus vaccine, a bivalent oral tablet vaccine in Phase 2 clinical trial for the GI.1 and GII.4 norovirus strains; coronavirus vaccine, which is in Phase 2 clinical trial, for the treatment of SARS-CoV-2 infection; seasonal influenza vaccine, which is in Phase 2 clinical trial, to treat H1 influenza infection; and human papillomavirus therapeutic vaccine, which is in preclinical stage, that targets HPV-16 and HPV-18 for cervical cancers and precancerous cervical lesions.