Vaxart (NASDAQ:VXRT) Stock Price Passes Below 200 Day Moving Average - What's Next?

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) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-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 traded.

Wall Street Analysts Forecast Growth

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

Vaxart Stock Up 8.3%

The company has a 50-day simple moving average of $0.40 and a two-hundred day simple moving average of $0.45. The stock has a market cap of $89.28 million, a P/E ratio of -1.44 and a beta of 1.12.

Institutional Trading of Vaxart

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. bought a new position in Vaxart in the first quarter worth $31,000. Creative Planning bought a new position in Vaxart in the second quarter worth $33,000. Graham Capital Management L.P. raised its holdings in Vaxart by 155.8% in the fourth quarter. Graham Capital Management L.P. now owns 53,331 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 32,482 shares in the last quarter. Invesco Ltd. raised its holdings in Vaxart by 48.6% in the fourth quarter. Invesco Ltd. now owns 75,798 shares of the biotechnology company's stock worth $50,000 after purchasing an additional 24,803 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Vaxart in the first quarter worth $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.