Vaxart, Inc. (NASDAQ:VXRT – Get Rating)’s stock price gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $4.29, but opened at $3.97. Vaxart shares last traded at $4.22, with a volume of 17,238 shares trading hands.
The biotechnology company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Vaxart had a negative return on equity of 41.95% and a negative net margin of 16,892.57%. During the same quarter in the previous year, the company posted ($0.13) EPS.
Analyst Ratings Changes
Separately, B. Riley dropped their target price on shares of Vaxart from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th.
Institutional Trading of Vaxart
Several institutional investors and hedge funds have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd acquired a new stake in Vaxart during the 2nd quarter valued at approximately $37,000. AE Wealth Management LLC lifted its stake in shares of Vaxart by 36.3% in the 2nd quarter. AE Wealth Management LLC now owns 21,847 shares of the biotechnology company’s stock valued at $76,000 after purchasing an additional 5,814 shares during the period. SG Americas Securities LLC acquired a new position in shares of Vaxart in the 2nd quarter valued at $544,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Vaxart in the 2nd quarter valued at $121,000. Finally, Gofen & Glossberg LLC IL acquired a new position in shares of Vaxart in the 2nd quarter valued at $65,000. 45.91% of the stock is currently owned by institutional investors and hedge funds.
Vaxart Stock Performance
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The firm’s 50 day moving average is $3.72 and its 200-day moving average is $4.18. The stock has a market capitalization of $533.45 million, a price-to-earnings ratio of -6.75 and a beta of 0.69.
About Vaxart
Vaxart, Inc, a clinical-stage biotechnology 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 norovirus vaccine, an oral tablet vaccine, which is in a Phase Ib clinical trial with bivalent oral tablet vaccine for the GI.1 and GII.4 norovirus strains; seasonal influenza vaccine, which is in Phase II clinical trial for the treatment of H1 influenza infection; respiratory syncytial virus vaccine; and coronavirus vaccine, which is in Phase II clinical trial for the treatment of SARS-CoV-2 infection.
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Read More: Vaxart (NASDAQ:VXRT) Shares Gap Down on Disappointing Earnings