Vaxart (NASDAQ:VXRT) Stock Price Crosses Below 200-Day Moving Average - Here's Why

Shares of Vaxart, Inc. (NASDAQ:VXRT - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.55 and traded as low as $0.49. Vaxart shares last traded at $0.70, with a volume of 28,790,756 shares.

Analysts Set New Price Targets

A number of research firms have recently commented on VXRT. Wall Street Zen upgraded Vaxart to a "hold" rating in a research report on Thursday, May 22nd. B. Riley dropped their price target on shares of Vaxart from $2.50 to $2.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th.

Vaxart Price Performance

The business's 50 day moving average price is $0.43 and its 200 day moving average price is $0.55. The firm has a market cap of $136.00 million, a PE ratio of -2.21 and a beta of 1.25.

Vaxart (NASDAQ:VXRT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.07) earnings per share (EPS) 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 company had revenue of $20.88 million for the quarter, compared to analysts' expectations of $2.85 million. As a group, analysts predict that Vaxart, Inc. will post -0.39 earnings per share for the current year.

Insider Transactions at Vaxart

In other Vaxart news, insider Steven Lo purchased 100,000 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average cost of $0.49 per share, for a total transaction of $49,000.00. Following the completion of 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Vaxart

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in Vaxart by 10.8% during the fourth quarter. Bank of America Corp DE now owns 184,447 shares of the biotechnology company's stock worth $122,000 after buying an additional 17,942 shares in the last quarter. Invesco Ltd. increased its stake in shares of Vaxart by 48.6% in the 4th quarter. Invesco Ltd. now owns 75,798 shares of the biotechnology company's stock worth $50,000 after acquiring an additional 24,803 shares during the last quarter. Graham Capital Management L.P. raised its holdings in shares of Vaxart by 155.8% during the 4th quarter. Graham Capital Management L.P. now owns 53,331 shares of the biotechnology company's stock worth $35,000 after acquiring an additional 32,482 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Vaxart by 140.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 60,213 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 35,213 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Vaxart by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,601,139 shares of the biotechnology company's stock valued at $1,723,000 after purchasing an additional 57,911 shares during the period. 18.05% of the stock is currently owned by hedge funds and other 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.