Vaxart (NASDAQ:VXRT) Coverage Initiated by Analysts at Piper Sandler

Equities research analysts at Piper Sandler started coverage on shares of Vaxart (NASDAQ:VXRT) in a research note issued on Friday, The Fly reports. The firm set an “overweight” rating on the biotechnology company’s stock.

VXRT has been the subject of a number of other research reports. B. Riley reissued a “buy” rating and issued a $13.00 price objective (down previously from $16.00) on shares of Vaxart in a research note on Thursday, March 4th. Zacks Investment Research raised shares of Vaxart from a “sell” rating to a “hold” rating in a research note on Wednesday, May 5th.

Vaxart stock opened at $7.17 on Friday. The company’s 50 day moving average is $6.65. Vaxart has a fifty-two week low of $2.25 and a fifty-two week high of $24.90. The company has a market capitalization of $876.66 million, a P/E ratio of -15.26 and a beta of 0.27.

Vaxart (NASDAQ:VXRT) last issued its quarterly earnings data on Sunday, May 2nd. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $0.62 million. Vaxart had a negative return on equity of 39.81% and a negative net margin of 2,844.24%. Vaxart’s revenue for the quarter was down 82.8% compared to the same quarter last year. As a group, equities research analysts forecast that Vaxart will post -0.75 earnings per share for the current year.

In other news, Director Wouter Latour sold 100,000 shares of the company’s stock in a transaction on Friday, May 7th. The stock was sold at an average price of $7.13, for a total transaction of $713,000.00. Following the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $713,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 36.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in VXRT. Principal Financial Group Inc. purchased a new stake in shares of Vaxart during the fourth quarter valued at $4,120,000. BlackRock Inc. grew its holdings in shares of Vaxart by 15.5% during the fourth quarter. BlackRock Inc. now owns 4,936,559 shares of the biotechnology company’s stock valued at $28,188,000 after buying an additional 662,889 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Vaxart by 1,676.7% during the first quarter. Citigroup Inc. now owns 607,981 shares of the biotechnology company’s stock valued at $3,678,000 after buying an additional 573,762 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Vaxart by 2,723.3% during the first quarter. Thrivent Financial for Lutherans now owns 560,322 shares of the biotechnology company’s stock valued at $3,390,000 after buying an additional 540,476 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Vaxart by 68.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,218,497 shares of the biotechnology company’s stock valued at $6,958,000 after buying an additional 493,154 shares during the last quarter. 26.42% of the stock is currently owned by hedge funds and other institutional investors.

Vaxart Company Profile

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 completed Phase I clinical trial for the treatment of SARS-CoV-2 infection.

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