Vaxart (NASDAQ:VXRT) Trading Down 17.8%

Vaxart Inc (NASDAQ:VXRT)’s share price was down 17.8% during trading on Wednesday . The company traded as low as $7.09 and last traded at $7.19. Approximately 21,133,279 shares were traded during trading, an increase of 16% from the average daily volume of 18,252,949 shares. The stock had previously closed at $8.75.

A number of equities analysts have recently commented on VXRT shares. HC Wainwright boosted their price objective on Vaxart from $7.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. BidaskClub upgraded Vaxart from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. B. Riley restated a “buy” rating and set a $22.00 target price on shares of Vaxart in a research note on Friday, August 7th. ValuEngine cut Vaxart from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Zacks Investment Research cut Vaxart from a “hold” rating to a “sell” rating in a research note on Friday, September 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $13.42.

The company has a debt-to-equity ratio of 0.03, a current ratio of 3.98 and a quick ratio of 3.98. The stock has a 50 day simple moving average of $7.47 and a two-hundred day simple moving average of $5.31. The company has a market cap of $752.40 million, a PE ratio of -11.68 and a beta of -0.04.

Vaxart (NASDAQ:VXRT) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.06). Vaxart had a negative net margin of 281.50% and a negative return on equity of 84.90%. The firm had revenue of $0.52 million during the quarter, compared to analysts’ expectations of $1.90 million. As a group, equities analysts anticipate that Vaxart Inc will post -0.35 EPS for the current fiscal year.

In related news, Director Armistice Capital, Llc sold 9,385,386 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $8.29, for a total transaction of $77,804,849.94. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 36.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new position in Vaxart during the second quarter worth $3,530,000. UBS Group AG grew its holdings in Vaxart by 2,246.9% in the second quarter. UBS Group AG now owns 302,657 shares of the biotechnology company’s stock valued at $2,679,000 after purchasing an additional 289,761 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Vaxart in the second quarter valued at $75,000. Strategic Wealth Management Group LLC grew its holdings in Vaxart by 75.5% in the second quarter. Strategic Wealth Management Group LLC now owns 28,056 shares of the biotechnology company’s stock valued at $248,000 after purchasing an additional 12,072 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Vaxart in the second quarter valued at $254,000. 17.90% of the stock is currently owned by hedge funds and other institutional investors.

Vaxart Company Profile (NASDAQ:VXRT)

Vaxart, Inc, a clinical-stage company, engages in the discovery and development of oral recombinant protein vaccines based on its proprietary oral vaccine platform. The company's product pipeline includes tablet vaccines that are designed to protect against norovirus, seasonal influenza, and respiratory syncytial virus.

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