Vaxxinity (NASDAQ:VAXX) Upgraded to “Buy” at Zacks Investment Research

Vaxxinity (NASDAQ:VAXXGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Zacks.com reports. The firm currently has a $4.50 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 2.97% from the stock’s previous close.

According to Zacks, “Vaxxinity Inc. is a biotechnology company pioneering a new class of immunotherapeutic vaccines to democratize health. Vaxxinity Inc. is based in DALLAS, Texas. “

Separately, Evercore ISI started coverage on shares of Vaxxinity in a research note on Wednesday, April 27th. They set an “in-line” rating for the company.

Shares of VAXX opened at $4.37 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.46 and a quick ratio of 5.61. The firm’s fifty day moving average price is $4.29. Vaxxinity has a twelve month low of $3.04 and a twelve month high of $22.77.

Vaxxinity (NASDAQ:VAXXGet Rating) last posted its earnings results on Thursday, March 24th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.13). As a group, equities research analysts forecast that Vaxxinity will post -1.38 EPS for the current fiscal year.

In other Vaxxinity news, insider Mei Mei Hu bought 8,038 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The stock was bought at an average cost of $3.37 per share, for a total transaction of $27,088.06. Following the completion of the transaction, the insider now owns 51,593,454 shares of the company’s stock, valued at approximately $173,869,939.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder United Biomedical Inc bought 18,105 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The shares were acquired at an average price of $3.45 per share, with a total value of $62,462.25. Following the completion of the transaction, the insider now directly owns 51,611,559 shares of the company’s stock, valued at approximately $178,059,878.55. The disclosure for this purchase can be found here. Insiders bought 30,950 shares of company stock valued at $106,759 over the last quarter.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC purchased a new position in Vaxxinity during the fourth quarter valued at approximately $27,000. Geode Capital Management LLC purchased a new position in Vaxxinity during the fourth quarter valued at approximately $382,000. ETF Managers Group LLC purchased a new position in Vaxxinity during the fourth quarter valued at approximately $211,000. Goldman Sachs Group Inc. purchased a new position in Vaxxinity during the fourth quarter valued at approximately $1,240,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Vaxxinity during the fourth quarter valued at approximately $5,619,000. Institutional investors own 15.82% of the company’s stock.

Vaxxinity Company Profile (Get Rating)

Vaxxinity, Inc, a biotechnology company, focuses on developing product candidates for human use in the fields of neurology and coronaviruses in the United States. The company engages in developing UB-311 that targets toxic forms of aggregated amyloid-b in the brain to fight Alzheimer's disease; UB-312 that targets toxic forms of aggregated a-synuclein in the brain to fight Parkinson's disease and other synucleinopathies, such as dementia with Lewy Body and multiple system atrophy; and an anti-tau product candidate for various neurodegenerative conditions, including AD.

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