Vaxart (NASDAQ:VXRT) Shares Pass Above 200-Day Moving Average of $0.84

Vaxart, Inc. (NASDAQ:VXRT - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.84 and traded as high as $0.85. Vaxart shares last traded at $0.79, with a volume of 1,486,286 shares.

Wall Street Analyst Weigh In

Separately, Oppenheimer initiated coverage on Vaxart in a research note on Thursday, August 15th. They issued an "outperform" rating and a $4.00 price target on the stock.

Vaxart Trading Up 2.5 %

The firm has a market cap of $143.36 million, a price-to-earnings ratio of -1.47 and a beta of 0.65. The firm's 50-day moving average is $0.79 and its 200-day moving average is $0.84.

Vaxart (NASDAQ:VXRT - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The firm had revenue of $6.40 million for the quarter, compared to analysts' expectations of $65.70 million. Vaxart had a negative return on equity of 114.19% and a negative net margin of 543.21%. During the same quarter last year, the firm posted ($0.16) earnings per share. Analysts forecast that Vaxart, Inc. will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Vaxart

A number of hedge funds and other institutional investors have recently made changes to their positions in VXRT. RA Capital Management L.P. purchased a new stake in shares of Vaxart during the 1st quarter valued at approximately $20,000,000. Vanguard Group Inc. lifted its holdings in shares of Vaxart by 19.9% during the 1st quarter. Vanguard Group Inc. now owns 8,449,362 shares of the biotechnology company's stock worth $10,984,000 after acquiring an additional 1,404,391 shares during the last quarter. Millennium Management LLC lifted its stake in Vaxart by 110.8% during the second quarter. Millennium Management LLC now owns 3,985,670 shares of the biotechnology company's stock worth $2,660,000 after purchasing an additional 2,095,274 shares during the last quarter. Monaco Asset Management SAM purchased a new stake in Vaxart in the second quarter worth approximately $402,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Vaxart in the 2nd quarter valued at $65,000. 18.05% of the stock is owned by hedge funds and other institutional investors.

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.