Vaxart (NASDAQ:VXRT) Stock Price Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• Vaxart's stock price has dropped below its 200-day moving average of $0.49, trading as low as $0.34 and currently at $0.37.
• Analysts upgraded Vaxart shares to a "hold" rating, while the company reported quarterly earnings of ($0.07) per share, meeting expectations with a revenue of $20.88 million.
• Insider Steven Lo purchased 100,000 shares at an average cost of $0.49 per share, reflecting a significant increase in ownership.

Vaxart, Inc. (NASDAQ:VXRT - Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.49 and traded as low as $0.34. Vaxart shares last traded at $0.37, with a volume of 438,322 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Vaxart to a "hold" rating in a report on Thursday, May 22nd.

Vaxart Trading Down 2.7%

The stock has a market capitalization of $86.99 million, a PE ratio of -1.41 and a beta of 1.12. The business has a fifty day moving average price of $0.44 and a 200-day moving average price of $0.48.

Vaxart (NASDAQ:VXRT - Get Free Report) last issued its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $20.88 million during the quarter, compared to analyst estimates of $2.85 million. Vaxart had a negative return on equity of 91.89% and a negative net margin of 122.63%. On average, equities analysts anticipate that Vaxart, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Vaxart

In other Vaxart news, insider Steven Lo purchased 100,000 shares of the stock in a transaction on Monday, May 19th. The stock was acquired at an average cost of $0.49 per share, with a total value of $49,000.00. Following the completion of the purchase, the insider directly owned 100,000 shares of the company's stock, valued at approximately $49,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On Vaxart

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Vaxart by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,601,139 shares of the biotechnology company's stock worth $1,723,000 after purchasing an additional 57,911 shares during the period. Silverarc Capital Management LLC raised its holdings in Vaxart by 7.8% during the 4th quarter. Silverarc Capital Management LLC now owns 1,077,782 shares of the biotechnology company's stock valued at $714,000 after buying an additional 77,782 shares during the last quarter. Squarepoint Ops LLC boosted its position in Vaxart by 95.0% during the 4th quarter. Squarepoint Ops LLC now owns 516,798 shares of the biotechnology company's stock valued at $342,000 after buying an additional 251,789 shares during the period. Jones Financial Companies Lllp grew its holdings in Vaxart by 276,364.7% in the 1st quarter. Jones Financial Companies Lllp now owns 478,284 shares of the biotechnology company's stock worth $196,000 after acquiring an additional 478,111 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Vaxart in the 4th quarter worth $129,000. Institutional investors own 18.05% of the company's stock.

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.