Vaxart (NASDAQ:VXRT) Stock Price Passes Below 200-Day Moving Average - Here's Why

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) crossed 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.

Analysts Set New Price Targets

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

Vaxart Stock Performance

The stock's 50-day moving average is $0.45 and its 200 day moving average is $0.49. The stock has a market capitalization of $84.01 million, a PE ratio of -1.36 and a beta of 1.12.

Vaxart (NASDAQ:VXRT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.07) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.07). Vaxart had a negative net margin of 122.63% and a negative return on equity of 91.89%. The firm had revenue of $20.88 million during the quarter, compared to analysts' expectations of $2.85 million. Analysts expect that Vaxart, Inc. will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Steven Lo purchased 100,000 shares of Vaxart stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average cost of $0.49 per share, with a total value of $49,000.00. Following the completion of the transaction, the insider directly owned 100,000 shares in the company, valued at approximately $49,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Vaxart

A number of large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new stake in shares of Vaxart in the 1st quarter worth $31,000. Jones Financial Companies Lllp lifted its stake in shares of 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 period. Virtu Financial LLC acquired a new stake in shares of Vaxart in the 1st quarter worth $56,000. Invesco Ltd. lifted its stake in shares of Vaxart by 93.1% in the 1st quarter. Invesco Ltd. now owns 146,366 shares of the biotechnology company's stock worth $60,000 after acquiring an additional 70,568 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in shares of Vaxart by 95.0% in the 4th quarter. Squarepoint Ops LLC now owns 516,798 shares of the biotechnology company's stock worth $342,000 after acquiring an additional 251,789 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.