Oppenheimer Begins Coverage on Vaxart (NASDAQ:VXRT)

Oppenheimer started coverage on shares of Vaxart (NASDAQ:VXRT) in a research report released on Thursday, Marketbeat reports. The brokerage issued an outperform rating and a $4.00 price objective on the biotechnology company’s stock.

Vaxart Stock Performance

VXRT opened at $0.79 on Thursday. The firm’s fifty day moving average is $0.67 and its two-hundred day moving average is $0.90. The firm has a market cap of $139.42 million, a PE ratio of -1.49 and a beta of 0.65. Vaxart has a twelve month low of $0.52 and a twelve month high of $1.54.

Vaxart (NASDAQ:VXRT) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). Vaxart had a negative return on equity of 121.06% and a negative net margin of 920.00%. The business had revenue of $6.40 million for the quarter, compared to the consensus estimate of $65.70 million. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. Equities analysts forecast that Vaxart will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. RA Capital Management L.P. bought a new position in shares of Vaxart during the 1st quarter worth approximately $20,000,000. Vanguard Group Inc. boosted its stake in shares of Vaxart by 19.9% during the 1st quarter. Vanguard Group Inc. now owns 8,449,362 shares of the biotechnology company’s stock worth $10,984,000 after buying an additional 1,404,391 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Vaxart by 110.8% in the 2nd quarter. Millennium Management LLC now owns 3,985,670 shares of the biotechnology company’s stock valued at $2,660,000 after acquiring an additional 2,095,274 shares in the last quarter. Monaco Asset Management SAM acquired a new stake in shares of Vaxart in the second quarter valued at about $402,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Vaxart in the second quarter valued at about $65,000. 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.