Vaxart (OTCMKTS:VXRT) Shares Pass Below 200 Day Moving Average - What's Next?

Key Points

• Vaxart shares fell below their 200-day moving average, trading as low as $0.44 versus the $0.63 average, and last changing hands near $0.45.
• Zacks Research upgraded the stock to a “Hold” rating, matching the broader analyst consensus. The company reported quarterly EPS in line with estimates but revenue of $39.23 million below the $50.50 million forecast.
• Institutional ownership stands at 18.05%, with several firms initiating or increasing positions, including Goldman Sachs, Marshall Wace and Jones Financial.

Vaxart, Inc. (OTCMKTS:VXRT - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.63 and traded as low as $0.44. Vaxart shares last traded at $0.4501, with a volume of 443,285 shares.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Vaxart to a "hold" rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

Vaxart Price Performance

The company has a market capitalization of $109.30 million, a P/E ratio of 3.00 and a beta of 1.09. The firm has a fifty day moving average price of $0.57 and a 200-day moving average price of $0.63.

Vaxart (OTCMKTS:VXRT - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.02 EPS for the quarter, hitting analysts' consensus estimates of $0.02. Vaxart had a return on equity of 61.43% and a net margin of 14.51%.The business had revenue of $39.23 million for the quarter, compared to analyst estimates of $50.50 million. On average, research analysts forecast that Vaxart, Inc. will post -0.68 EPS for the current year.

Institutional Investors Weigh In On Vaxart

A number of hedge funds have recently made changes to their positions in VXRT. Goldman Sachs Group Inc. purchased a new position in shares of Vaxart in the 1st quarter worth about $31,000. Creative Planning bought a new position in Vaxart during the second quarter valued at about $33,000. Jones Financial Companies Lllp increased its holdings 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 during the last quarter. Marshall Wace LLP purchased a new stake in Vaxart during the second quarter worth about $794,000. Finally, Raymond James Financial Inc. raised its position in Vaxart by 16.9% in the second quarter. Raymond James Financial Inc. now owns 236,166 shares of the biotechnology company's stock worth $107,000 after acquiring an additional 34,075 shares during the period. 18.05% of the stock is currently owned by institutional investors.

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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