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

Vaxart, Inc. (NASDAQ:VXRT - Get Free Report)'s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.53 and traded as low as $0.30. Vaxart shares last traded at $0.35, with a volume of 2,480,363 shares changing hands.

Wall Street Analyst Weigh In

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

Vaxart Trading Up 29.0%

The business has a fifty day moving average of $0.46 and a 200-day moving average of $0.53. The firm has a market cap of $102.24 million, a PE ratio of -1.66 and a beta of 1.14.

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

Insider Transactions at Vaxart

In related news, insider Steven Lo acquired 100,000 shares of the stock in a transaction dated Monday, May 19th. The shares were purchased at an average price of $0.49 per share, for a total transaction of $49,000.00. Following the transaction, the insider owned 100,000 shares in the company, valued at $49,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new stake in Vaxart during the first quarter worth about $31,000. Jones Financial Companies Lllp raised its holdings in 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 buying an additional 478,111 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Vaxart in the first quarter worth about $56,000. Invesco Ltd. raised its holdings in shares of Vaxart by 93.1% during the first quarter. Invesco Ltd. now owns 146,366 shares of the biotechnology company's stock valued at $60,000 after acquiring an additional 70,568 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Vaxart by 95.0% in the 4th quarter. Squarepoint Ops LLC now owns 516,798 shares of the biotechnology company's stock worth $342,000 after purchasing an additional 251,789 shares during the period. 18.05% of the stock is currently owned by hedge funds and other institutional investors.

About Vaxart

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.