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

Key Points

• Vaxart, Inc. (NASDAQ:VXRT) shares fell below their 200-day moving average of $0.45, trading as low as $0.34 before closing at $0.36 with a trading volume of 345,471 shares.
• Wall Street Zen recently upgraded Vaxart's rating to "hold", and the stock currently has an average target price of $2.00 based on one analyst's "Buy" rating.
• Various hedge funds have recently increased their stakes in Vaxart, with Goldman Sachs and Creative Planning notably acquiring new shares valued at approximately $31,000 and $33,000, respectively.

Vaxart, Inc. (NASDAQ:VXRT - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.45 and traded as low as $0.34. Vaxart shares last traded at $0.36, with a volume of 345,471 shares.

Analysts Set New Price Targets

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

Vaxart Price Performance

The company's 50-day moving average is $0.40 and its two-hundred day moving average is $0.44. The firm has a market cap of $89.28 million, a P/E ratio of -1.44 and a beta of 1.33.

Institutional Investors Weigh In On Vaxart

Several institutional investors and hedge funds have recently bought and sold shares of VXRT. Marshall Wace LLP bought a new position in Vaxart in the second quarter valued at about $794,000. Jones Financial Companies Lllp raised its position 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 purchasing an additional 478,111 shares during the last quarter. Squarepoint Ops LLC raised its position 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 purchasing an additional 251,789 shares during the last quarter. Raymond James Financial Inc. bought a new position in Vaxart in the fourth quarter valued at about $129,000. Finally, Virtu Financial LLC bought a new position in Vaxart in the first quarter valued at about $56,000. Institutional investors own 18.05% of the company's stock.

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.