Vaxart (NASDAQ:VXRT) Price Target Lowered to $2.00 at B. Riley

Vaxart (NASDAQ:VXRT) had its price target reduced by B. Riley from $2.50 to $2.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. B. Riley’s target price indicates a potential upside of 339.85% from the company’s previous close.

Vaxart Stock Performance

Shares of NASDAQ VXRT traded down $0.01 during trading hours on Thursday, reaching $0.45. 1,397,402 shares of the stock were exchanged, compared to its average volume of 2,372,299. The stock’s fifty day simple moving average is $0.63 and its 200 day simple moving average is $0.70. The firm has a market capitalization of $103.44 million, a price-to-earnings ratio of -1.11 and a beta of 1.69. Vaxart has a 52 week low of $0.45 and a 52 week high of $1.41.

Vaxart (NASDAQ:VXRT) last released its quarterly earnings results on Thursday, March 20th. The biotechnology company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.05. Vaxart had a negative net margin of 431.61% and a negative return on equity of 110.46%. The business had revenue of $15.19 million for the quarter, compared to the consensus estimate of $15.68 million. Research analysts predict that Vaxart will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Vaxart

Several institutional investors have recently made changes to their positions in VXRT. Bank of America Corp DE raised its holdings in Vaxart by 10.8% in the 4th quarter. Bank of America Corp DE now owns 184,447 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 17,942 shares in the last quarter. Invesco Ltd. raised its stake in Vaxart by 48.6% in the fourth quarter. Invesco Ltd. now owns 75,798 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 24,803 shares in the last quarter. Graham Capital Management L.P. lifted its position in Vaxart by 155.8% during the fourth quarter. Graham Capital Management L.P. now owns 53,331 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 32,482 shares during the period. Sequoia Financial Advisors LLC lifted its position in Vaxart by 140.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 60,213 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 35,213 shares during the period. Finally, Geode Capital Management LLC grew its stake in Vaxart by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 2,601,139 shares of the biotechnology company’s stock worth $1,723,000 after buying an additional 57,911 shares in the last quarter. 18.05% of the stock is currently owned by 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.