Vaxart (NASDAQ:VXRT) Given New $2.00 Price Target at B. Riley

Vaxart (NASDAQ:VXRT) had its price target decreased by stock analysts at B. Riley from $2.50 to $2.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. B. Riley’s price objective points to a potential upside of 374.83% from the stock’s previous close.

Vaxart Stock Performance

Shares of NASDAQ VXRT opened at $0.42 on Thursday. The business has a fifty day moving average of $0.62 and a two-hundred day moving average of $0.69. Vaxart has a 52-week low of $0.42 and a 52-week high of $1.34. The stock has a market cap of $95.81 million, a PE ratio of -1.03 and a beta of 1.69.

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

Hedge Funds Weigh In On Vaxart

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

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.