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

Vaxart (NASDAQ:VXRT) had its target price reduced by B. Riley from $2.50 to $2.00 in a report published on Thursday,Benzinga reports. B. Riley currently has a buy rating on the biotechnology company’s stock.

Vaxart Stock Performance

Shares of VXRT stock opened at $0.42 on Thursday. The stock’s 50-day moving average is $0.62 and its two-hundred day moving average is $0.69. Vaxart has a 1 year low of $0.42 and a 1 year high of $1.34. The firm has a market cap of $96.01 million, a price-to-earnings 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $15.19 million for the quarter, compared to the consensus estimate of $15.68 million. Vaxart had a negative return on equity of 110.46% and a negative net margin of 431.61%. As a group, research analysts predict that Vaxart will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Vaxart

A number of institutional investors have recently modified their holdings of VXRT. Graham Capital Management L.P. grew its position in Vaxart by 155.8% during the 4th 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 last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of 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 buying an additional 35,213 shares during the period. Invesco Ltd. grew its holdings in shares of Vaxart by 48.6% during the fourth quarter. Invesco Ltd. now owns 75,798 shares of the biotechnology company’s stock worth $50,000 after buying an additional 24,803 shares during the last quarter. XTX Topco Ltd increased its position in Vaxart by 869.3% in 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, Bank of America Corp DE raised its stake 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 valued at $122,000 after acquiring an additional 17,942 shares during the last quarter. 18.05% of the stock is owned by institutional investors and hedge funds.

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.