Vaxart (NASDAQ:VXRT) Shares Cross Below 200-Day Moving Average - What's Next?

Key Points

• Vaxart's shares recently fell below their 200-day moving average of $0.44, trading as low as $0.35 before closing at $0.39 with a volume of 503,483 shares.
• Wall Street analysts have upgraded Vaxart to a "hold" rating", with a consensus recommendation of "Buy" and an average target price of $2.00.
• Institutional investors have shown increasing interest, as hedge funds collectively own about 18.05% of Vaxart's stock, with significant stakes being added by firms like Raymond James and Goldman Sachs.

Vaxart, Inc. (NASDAQ:VXRT - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.44 and traded as low as $0.35. Vaxart shares last traded at $0.39, with a volume of 503,483 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Vaxart to a "hold" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $2.00.

Vaxart Stock Up 1.7%

The stock's 50 day moving average is $0.39 and its two-hundred day moving average is $0.44. The company has a market capitalization of $88.13 million, a PE ratio of -1.43 and a beta of 1.33.

Institutional Trading of Vaxart

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. lifted its stake in Vaxart by 16.9% in the second quarter. Raymond James Financial Inc. now owns 236,166 shares of the biotechnology company's stock worth $107,000 after acquiring an additional 34,075 shares during the period. Marshall Wace LLP purchased a new stake in shares of Vaxart during the second quarter valued at about $794,000. Creative Planning purchased a new stake in shares of Vaxart during the second quarter valued at about $33,000. Goldman Sachs Group Inc. purchased a new stake in shares of Vaxart during the first quarter valued at about $31,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Vaxart by 276,364.7% during the first 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. 18.05% of the stock is 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.

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