Vaxart (OTCMKTS:VXRT) Releases Earnings Results, Hits Expectations

Key Points

• Vaxart reported quarterly earnings of $0.02 per share, matching analyst expectations, but revenue came in at $39.23 million versus the $65.50 million consensus estimate.
• The stock fell about 5.4% after the report, trading around $0.70 with elevated volume compared with its average daily trading level.
• Wall Street Zen upgraded Vaxart to a buy, while institutional ownership in the company stands at 18.05% after recent hedge fund activity.

Vaxart (OTCMKTS:VXRT - Get Free Report) posted its earnings results on Thursday. The biotechnology company reported $0.02 EPS for the quarter, meeting analysts' consensus estimates of $0.02, Zacks reports. Vaxart had a return on equity of 75.49% and a net margin of 14.51%.The firm had revenue of $39.23 million for the quarter, compared to analysts' expectations of $65.50 million.

Vaxart Stock Down 5.4%

Shares of OTCMKTS VXRT traded down $0.04 during midday trading on Friday, hitting $0.70. The stock had a trading volume of 691,277 shares, compared to its average volume of 433,090. The company has a market capitalization of $169.38 million, a PE ratio of 4.67 and a beta of 1.18. The stock has a 50 day simple moving average of $0.70 and a 200-day simple moving average of $0.54. Vaxart has a 1 year low of $0.26 and a 1 year high of $0.84.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Vaxart to a "buy" rating in a research note on Friday, January 23rd.

Institutional Trading of Vaxart

A number of hedge funds have recently bought and sold shares of the business. Marshall Wace LLP acquired a new stake in Vaxart in the 2nd quarter valued at about $794,000. Jones Financial Companies Lllp lifted its position in Vaxart by 276,364.7% during the first quarter. Jones Financial Companies Lllp now owns 478,284 shares of the biotechnology company's stock worth $196,000 after buying an additional 478,111 shares in the last quarter. Raymond James Financial Inc. grew its holdings in shares of Vaxart by 16.9% in the second quarter. Raymond James Financial Inc. now owns 236,166 shares of the biotechnology company's stock valued at $107,000 after purchasing an additional 34,075 shares during the period. Invesco Ltd. grew its holdings in shares of Vaxart by 93.1% in the first quarter. Invesco Ltd. now owns 146,366 shares of the biotechnology company's stock valued at $60,000 after purchasing an additional 70,568 shares during the period. Finally, Creative Planning purchased a new stake in shares of Vaxart in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 18.05% of the company's stock.

About Vaxart

Vaxart, Inc is a clinical-stage biotechnology company pioneering the development of oral recombinant vaccines administered in tablet form. Leveraging a proprietary, room-temperature-stable platform, the company aims to simplify vaccine delivery while eliciting both systemic and mucosal immune responses. Its technology is based on the replication-defective adenovirus vector system, which encodes target antigens designed to protect against a range of infectious diseases without the need for injections or cold-chain logistics.

The company’s pipeline includes multiple vaccine candidates in various stages of development.

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