Vaxart (NASDAQ:VXRT) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Vaxart (NASDAQ:VXRT) from a sell rating to a hold rating in a research note published on Friday, Zacks.com reports.

According to Zacks, “Vaxart, Inc. is a clinical-stage company developing a range of oral recombinant vaccines based on its proprietary delivery platform. The company’s vaccines are administered using convenient room temperature-stable tablets that can be stored and shipped without refrigeration and eliminate risk of needle-stick injury. Its development programs are oral tablet vaccines designed to protect against norovirus, seasonal influenza and respiratory syncytial virus, as well as a therapeutic vaccine for human papillomavirus. Vaxart, Inc., formerly known as Aviragen Therapeutics, is based in South San Francisco, United States. “

Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Vaxart from a buy rating to a hold rating in a research report on Monday, June 1st. HC Wainwright restated a buy rating and set a $7.00 target price on shares of Vaxart in a research report on Wednesday, May 13th.

VXRT stock opened at $7.49 on Friday. The company has a market cap of $596.44 million, a P/E ratio of -8.71 and a beta of 0.10. Vaxart has a 52 week low of $0.25 and a 52 week high of $14.30. The company’s 50-day moving average price is $3.08 and its 200 day moving average price is $1.80. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 0.04.

Vaxart (NASDAQ:VXRT) last released its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $2.90 million for the quarter, compared to the consensus estimate of $2.80 million. Vaxart had a negative net margin of 252.86% and a negative return on equity of 94.20%. On average, equities research analysts expect that Vaxart will post -0.19 earnings per share for the current year.

In other news, Director Todd C. Davis sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $3.28, for a total value of $196,800.00. Following the completion of the transaction, the director now owns 120,000 shares of the company’s stock, valued at $393,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Armistice Capital, Llc sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $2.52, for a total transaction of $252,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,886,434 shares of company stock valued at $22,798,309. 36.70% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of VXRT. Strategic Wealth Management Group LLC acquired a new position in shares of Vaxart in the first quarter valued at approximately $28,000. Bank of New York Mellon Corp acquired a new position in shares of Vaxart in the first quarter valued at approximately $74,000. Harvest Investment Services LLC acquired a new position in shares of Vaxart in the first quarter valued at approximately $88,000. Renaissance Technologies LLC raised its position in shares of Vaxart by 41.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,369,774 shares of the biotechnology company’s stock valued at $480,000 after buying an additional 403,821 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Vaxart by 656.7% in the first quarter. Geode Capital Management LLC now owns 338,442 shares of the biotechnology company’s stock valued at $599,000 after buying an additional 293,713 shares during the last quarter. 40.98% of the stock is owned by institutional investors and hedge funds.

Vaxart Company Profile

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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