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

Key Points

• Vaxart's share price has fallen below its 200-day moving average, trading as low as $0.35, with a current price of $0.39.
• Despite recent struggles, Vaxart has received a "hold" rating from Wall Street Zen and maintains an average price target of $2.00 from analysts.
• Several institutional investors have increased their stakes in Vaxart, with notable increases from Bank of America Corp and Graham Capital Management, indicating potential investor confidence.

Shares of Vaxart, Inc. (NASDAQ:VXRT - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.43 and traded as low as $0.35. Vaxart shares last traded at $0.39, with a volume of 904,595 shares trading hands.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Vaxart to a "hold" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Vaxart presently has an average rating of "Buy" and an average target price of $2.00.

Vaxart Price Performance

The firm's 50 day simple moving average is $0.38 and its 200 day simple moving average is $0.42. The stock has a market capitalization of $87.91 million, a PE ratio of -1.42 and a beta of 1.33.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VXRT. Marshall Wace LLP purchased a new position in shares of Vaxart in the second quarter worth $794,000. Jones Financial Companies Lllp boosted its holdings in Vaxart by 276,364.7% in the first 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 in the last quarter. Squarepoint Ops LLC boosted its holdings in Vaxart by 95.0% in the fourth 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 in the last quarter. Virtu Financial LLC bought a new stake in Vaxart in the first quarter valued at $56,000. Finally, Goldman Sachs Group Inc. bought a new stake in Vaxart in the first quarter valued at $31,000. 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.