Vaxart recovers day after shares take post-earnings drubbing
May 04, 2021
By: Jonathan M Block, SA News Editor
Vaxart (NASDAQ:VXRT) shares are up more than 9.3% in late afternoon trading, a day after the stock dropped 26% due to disappointing Q1 earnings and a delay in a phase 2 trial of its oral COVID-19 vaccine candidate.
However, shares rose more than 20% after-hours yesterday as the company reported promising phase 1 results on the candidate in COVID-19 variants.
B. Riley analyst Mayank Mamtani today reiterated his buy rating and $13 price target.
He wrote that he is encouraged by the company's build-up of its manufacturing capabilities, as well as having some production tasks completed by partners.
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