Vaxart (NASDAQ:VXRT) Shares Up 8.8% Following Insider Buying Activity

Shares of Vaxart Inc (NASDAQ:VXRT) shot up 8.8% during mid-day trading on Monday following insider buying activity. The company traded as high as $0.38 and last traded at $0.37, 805,531 shares traded hands during trading. An increase of 36% from the average session volume of 592,004 shares. The stock had previously closed at $0.34.

Specifically, major shareholder Armistice Capital Master Fund purchased 7,333,333 shares of the stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $0.29 per share, with a total value of $2,126,666.57. Also, insider Wouter Latour purchased 166,667 shares of the stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $0.30 per share, with a total value of $50,000.10. Insiders acquired a total of 7,936,000 shares of company stock worth $2,329,267 over the last 90 days. Insiders own 7.30% of the company’s stock.

VXRT has been the subject of several research reports. Brookline Capital Management initiated coverage on shares of Vaxart in a research report on Thursday, August 15th. They issued a “buy” rating and a $6.00 price target for the company. Zacks Investment Research raised shares of Vaxart from a “hold” rating to a “buy” rating and set a $0.75 price target for the company in a research report on Friday, August 30th. ValuEngine cut shares of Vaxart from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, HC Wainwright set a $2.00 price target on shares of Vaxart and gave the stock a “buy” rating in a research report on Wednesday, August 21st.

The firm’s 50-day moving average price is $0.58 and its two-hundred day moving average price is $0.80. The stock has a market cap of $5.38 million, a PE ratio of -0.14 and a beta of 0.57. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.09.

Vaxart (NASDAQ:VXRT) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.11. Vaxart had a negative net margin of 244.38% and a negative return on equity of 131.05%. The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $1.10 million. On average, analysts anticipate that Vaxart Inc will post -1.45 earnings per share for the current year.

An institutional investor recently raised its position in Vaxart stock. Renaissance Technologies LLC boosted its position in shares of Vaxart Inc (NASDAQ:VXRT) by 120.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 739,653 shares of the biotechnology company’s stock after acquiring an additional 404,883 shares during the period. Renaissance Technologies LLC owned 4.69% of Vaxart worth $496,000 as of its most recent filing with the Securities & Exchange Commission. 12.51% of the stock is owned by institutional investors.

Vaxart Company Profile (NASDAQ:VXRT)

Vaxart, Inc, a clinical-stage 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 tablet vaccines that are designed to protect against norovirus, seasonal influenza, and respiratory syncytial virus.

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