Vaxart (NASDAQ:VXRT) Shares Cross Below 200 Day Moving Average – Time to Sell?

Vaxart, Inc. (NASDAQ:VXRT) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.78 and traded as low as $0.76. Vaxart shares last traded at $0.77, with a volume of 1,120,717 shares changing hands.

Wall Street Analyst Weigh In

Separately, Oppenheimer initiated coverage on shares of Vaxart in a research report on Thursday, August 15th. They set an “outperform” rating and a $4.00 price target for the company.

Vaxart Price Performance

The firm has a market capitalization of $136.60 million, a PE ratio of -1.67 and a beta of 0.66. The company’s fifty day simple moving average is $0.84 and its 200 day simple moving average is $0.77.

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

Institutional Investors Weigh In On Vaxart

Institutional investors and hedge funds have recently modified their holdings of the company. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Vaxart by 100.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 40,000 shares of the biotechnology company’s stock worth $34,000 after buying an additional 20,000 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Vaxart in the first quarter worth approximately $56,000. Sequoia Financial Advisors LLC bought a new position in shares of Vaxart in the second quarter worth approximately $65,000. Monaco Asset Management SAM bought a new position in shares of Vaxart in the second quarter worth approximately $402,000. Finally, Millennium Management LLC increased its position in shares of Vaxart by 110.8% in 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. 18.05% of the stock is owned by hedge funds and other institutional investors.

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.