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

Vaxart (NASDAQ:VXRT) had its price objective reduced by B. Riley from $2.50 to $2.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Vaxart Stock Down 7.8 %

NASDAQ VXRT opened at $0.42 on Thursday. The stock has a market capitalization of $96.01 million, a P/E ratio of -1.03 and a beta of 1.69. Vaxart has a 52-week low of $0.42 and a 52-week high of $1.34. The firm has a 50-day moving average price of $0.62 and a 200 day moving average price of $0.69.

Vaxart (NASDAQ:VXRT) last issued its earnings results on Thursday, March 20th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. Vaxart had a negative return on equity of 110.46% and a negative net margin of 431.61%. The business had revenue of $15.19 million during the quarter, compared to the consensus estimate of $15.68 million. On average, equities research analysts expect that Vaxart will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vaxart

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Vaxart by 15.8% in the third quarter. Geode Capital Management LLC now owns 2,543,228 shares of the biotechnology company’s stock valued at $2,160,000 after purchasing an additional 346,725 shares during the period. Squarepoint Ops LLC increased its holdings in Vaxart by 95.0% in the fourth quarter. Squarepoint Ops LLC now owns 516,798 shares of the biotechnology company’s stock valued at $342,000 after buying an additional 251,789 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Vaxart during the 4th quarter valued at approximately $129,000. XTX Topco Ltd lifted its position in shares of Vaxart by 869.3% during the 3rd quarter. XTX Topco Ltd now owns 136,466 shares of the biotechnology company’s stock valued at $116,000 after acquiring an additional 122,387 shares during the period. Finally, Silverarc Capital Management LLC boosted its stake in shares of Vaxart by 7.8% during the 4th quarter. Silverarc Capital Management LLC now owns 1,077,782 shares of the biotechnology company’s stock worth $714,000 after acquiring an additional 77,782 shares in the last quarter. 18.05% of the stock is currently 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.