VAXART on the move
There are many ways to look at why technically this stock is poised for a potential breakout to the upside. First of all I am long 3200 shares at 6.74 so am I biased? Maybe. The stock is clearly in an uptrend, 7.60 is my short - term price target, $8 and 8.50 directly thereafter with significant upside beyond that. Pattern wise, the chart is coiling nicely. All comments are appreciated. Best of luck to all.
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There have been some very large purchases of the stock lately which obviously is very bullish, and overall volume has increased dramatically. There's a 30% short interest in the stock, and we all know what's been happening to the shorts daily so far this year! Here's what's pending for VXRT in the immediate future, from yahoo finance contributor Zhiyuan Son;Vaxart claims to have created an experimental coronavirus vaccine in the form of an oral tablet. One could potentially self-administer the vaccine pill, which is stable at room temperature. This would allow patients to order the vaccine online and have it delivered for at-home use.
That sure sounds amazing, but it might be too good to be true. At the moment, Vaxart's experimental coronavirus vaccine is only in phase 1 clinical trials, with a new data readout expected by next week. Previously, the potential pill vaccine reduced lung viral load and mitigated lung inflammation in hamsters infected with COVID-19. That's a far cry from showing efficacy in humans.
Unfortunately, it's impossible to conclude how the experimental vaccine will work on humans from animal models. Hence, the candidate's phase 1 data release will likely be a make-or-break moment for Vaxart. The odds though, I think, are leaning slightly towards success given Vaxart's track record in vaccine development.
In phase 2 clinical trials, Vaxart's experimental orally administered influenza vaccine beat the efficacy of Sanofi's (NASDAQ:SNY) Fluzone by 8%. Additionally, the company has successfully developed two influenza vaccines in the past with the aid of collaborative partners.
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