Vaxcyte (NASDAQ:PCVX) Posts Earnings Results, Misses Expectations By $0.33 EPS

Vaxcyte (NASDAQ:PCVX) announced its quarterly earnings results on Tuesday. The company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.33), Zacks reports. During the same quarter in the previous year, the business earned ($0.83) earnings per share.

Vaxcyte Stock Performance

NASDAQ PCVX traded down $1.48 during mid-day trading on Tuesday, hitting $41.35. The company’s stock had a trading volume of 1,907,760 shares, compared to its average volume of 1,621,691. The company’s 50 day simple moving average is $37.24 and its 200 day simple moving average is $34.75. Vaxcyte has a twelve month low of $27.66 and a twelve month high of $116.00.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Vaxcyte in a research note on Friday, September 12th. They issued a “neutral” rating and a $38.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a research note on Tuesday, October 14th. Finally, Cowen reaffirmed a “buy” rating on shares of Vaxcyte in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Vaxcyte has an average rating of “Moderate Buy” and a consensus target price of $106.25.

Institutional Investors Weigh In On Vaxcyte

A number of institutional investors have recently added to or reduced their stakes in PCVX. State Street Corp boosted its position in Vaxcyte by 12.1% in the second quarter. State Street Corp now owns 4,942,235 shares of the company’s stock worth $160,672,000 after purchasing an additional 534,552 shares during the last quarter. Bank of America Corp DE boosted its position in Vaxcyte by 36.9% in the second quarter. Bank of America Corp DE now owns 1,082,671 shares of the company’s stock worth $35,198,000 after purchasing an additional 291,859 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in Vaxcyte in the second quarter worth $26,318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Vaxcyte by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 513,998 shares of the company’s stock valued at $19,409,000 after buying an additional 41,034 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of Vaxcyte by 2.2% during the 2nd quarter. Raymond James Financial Inc. now owns 299,582 shares of the company’s stock valued at $9,739,000 after buying an additional 6,448 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

Vaxcyte Company Profile

Vaxcyte, Inc, a clinical-stage biotechnology vaccine company, develops novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease. The company also develops VAX-31 to protect against emerging strains and to help address antibiotic resistance; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting keystone pathogen responsible for periodontitis; and VAX-GI to prevent Shigella, a bacterial illness.