VistaGen Therapeutics (NASDAQ:VTGN) Stock Passes Above 50-Day Moving Average – Here’s Why

Shares of VistaGen Therapeutics, Inc. (NASDAQ:VTGN) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.60 and traded as high as $0.6489. VistaGen Therapeutics shares last traded at $0.6423, with a volume of 499,129 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on VTGN. Jefferies Financial Group restated a “hold” rating and set a $0.90 price target (down from $15.00) on shares of VistaGen Therapeutics in a research report on Wednesday, December 17th. Stifel Nicolaus downgraded shares of VistaGen Therapeutics from a “buy” rating to a “hold” rating and set a $1.00 price objective on the stock. in a research report on Wednesday, December 17th. Wall Street Zen raised shares of VistaGen Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of VistaGen Therapeutics in a research report on Wednesday, January 21st. Finally, William Blair restated a “market perform” rating on shares of VistaGen Therapeutics in a research note on Wednesday, December 17th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $0.95.

VistaGen Therapeutics Trading Up 5.3%

The company has a market cap of $25.45 million, a price-to-earnings ratio of -0.34 and a beta of 0.29. The stock has a 50-day simple moving average of $0.60 and a 200-day simple moving average of $2.40.

VistaGen Therapeutics (NASDAQ:VTGN) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.06. The business had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.14 million. As a group, research analysts expect that VistaGen Therapeutics, Inc. will post -1.77 EPS for the current fiscal year.

Institutional Trading of VistaGen Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Luminus Management LLC acquired a new stake in shares of VistaGen Therapeutics in the 4th quarter worth approximately $232,000. Two Sigma Investments LP increased its stake in shares of VistaGen Therapeutics by 223.5% during the third quarter. Two Sigma Investments LP now owns 289,409 shares of the company’s stock valued at $1,027,000 after acquiring an additional 199,958 shares during the period. Millennium Management LLC increased its stake in shares of VistaGen Therapeutics by 853.0% during the fourth quarter. Millennium Management LLC now owns 197,045 shares of the company’s stock valued at $130,000 after acquiring an additional 176,369 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in VistaGen Therapeutics during the fourth quarter worth approximately $68,000. Finally, Jane Street Group LLC acquired a new stake in VistaGen Therapeutics in the second quarter worth approximately $190,000. 78.39% of the stock is currently owned by institutional investors.

VistaGen Therapeutics Company Profile

VistaGen Therapeutics, Inc (NASDAQ:VTGN) is a clinical-stage biopharmaceutical company dedicated to the discovery and development of next-generation medicines for central nervous system disorders. Incorporated in Delaware in 1998 and headquartered in South San Francisco, California, VistaGen applies advanced human pluripotent stem cell technologies to accelerate drug candidate validation and optimization. The company’s core focus is on addressing unmet medical needs in major depressive disorder, neuropathic pain and dermatological conditions.

The company’s lead candidate, AV-101, is an oral prodrug designed to modulate glutamatergic neurotransmission via the N-methyl-D-aspartate (NMDA) receptor pathway, with clinical programs targeting major depressive disorder and neuropathic pain.