B. Riley Issues Pessimistic Forecast for Vaxart (NASDAQ:VXRT) Stock Price

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

Vaxart Stock Down 7.8 %

Shares of NASDAQ VXRT opened at $0.42 on Thursday. Vaxart has a 12 month low of $0.42 and a 12 month high of $1.34. The company has a market cap of $95.81 million, a P/E ratio of -1.03 and a beta of 1.69. The business’s 50 day moving average is $0.62 and its two-hundred day moving average is $0.69.

Vaxart (NASDAQ:VXRT) last announced 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 net margin of 431.61% and a negative return on equity of 110.46%. The business had revenue of $15.19 million for the quarter, compared to analyst estimates of $15.68 million. Sell-side analysts expect that Vaxart will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vaxart

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC lifted its position in shares of Vaxart by 95.0% in the 4th quarter. Squarepoint Ops LLC now owns 516,798 shares of the biotechnology company’s stock worth $342,000 after acquiring an additional 251,789 shares during the period. Graham Capital Management L.P. raised its stake in shares of Vaxart by 155.8% in the fourth quarter. Graham Capital Management L.P. now owns 53,331 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 32,482 shares in the last quarter. Bank of America Corp DE lifted its position in Vaxart by 10.8% in the fourth quarter. Bank of America Corp DE now owns 184,447 shares of the biotechnology company’s stock worth $122,000 after purchasing an additional 17,942 shares during the period. Silverarc Capital Management LLC boosted its stake in Vaxart by 7.8% during the fourth quarter. Silverarc Capital Management LLC now owns 1,077,782 shares of the biotechnology company’s stock worth $714,000 after buying an additional 77,782 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Vaxart in the 4th quarter valued at $129,000. 18.05% of the stock is currently owned by 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.