Why Vaxart Stock Is Vaulting Higher Today

Shares of Vaxart (NASDAQ: VXRT) were 15.6% higher as of 11:06 a.m. EDT on Thursday after rising as much as 27.8% earlier in the day. The company didn't announce any new developments, but there are two likely factors behind today's big jump.

First, reports circulated on Wednesday that Vaxart registered a patent in Europe for its norovirus program. Second, some investors appeared to have begun buying the biotech stock on a pullback after Vaxart's announcement on Monday that the Food and Drug Administration has approved the start of a phase 1 clinical study of its oral COVID-19 vaccine candidate. The momentum that began yesterday continued today.

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Source Fool.com