Vaxcyte, Inc. (NASDAQ:PCVX – Get Free Report)’s stock price was up 6.4% on Tuesday . The stock traded as high as $60.39 and last traded at $60.6080. Approximately 353,632 shares changed hands during trading, a decline of 76% from the average daily volume of 1,495,872 shares. The stock had previously closed at $56.96.
Analyst Ratings Changes
PCVX has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a research report on Wednesday, April 8th. Wall Street Zen lowered shares of Vaxcyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Vaxcyte in a report on Tuesday, March 10th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.
Check Out Our Latest Stock Analysis on Vaxcyte
Vaxcyte Price Performance
Vaxcyte (NASDAQ:PCVX – Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing the consensus estimate of ($1.74) by ($0.56). During the same period in the prior year, the company earned ($1.04) EPS. On average, analysts expect that Vaxcyte, Inc. will post -7.91 EPS for the current year.
Insider Transactions at Vaxcyte
In other news, CFO Andrew Guggenhime sold 10,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $57.28, for a total value of $572,800.00. Following the completion of the sale, the chief financial officer directly owned 104,395 shares in the company, valued at approximately $5,979,745.60. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Grant Pickering sold 2,000 shares of Vaxcyte stock in a transaction on Friday, June 26th. The stock was sold at an average price of $55.23, for a total transaction of $110,460.00. Following the completion of the transaction, the chief executive officer owned 134,215 shares in the company, valued at $7,412,694.45. This trade represents a 1.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 75,448 shares of company stock worth $4,091,197. 3.30% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Vaxcyte
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in Vaxcyte by 115.2% in the 1st quarter. Royal Bank of Canada now owns 29,471 shares of the company’s stock valued at $1,113,000 after buying an additional 15,774 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Vaxcyte in the first quarter worth $219,000. Caxton Associates LLP bought a new position in Vaxcyte during the first quarter worth $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Vaxcyte by 8.7% in 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 purchasing an additional 41,034 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Vaxcyte by 13.8% in the 2nd quarter. Cetera Investment Advisers now owns 7,681 shares of the company’s stock valued at $250,000 after purchasing an additional 932 shares during the period. 96.78% of the stock is owned by institutional investors and hedge funds.
About Vaxcyte
Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company’s platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.
Vaxcyte’s lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.
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