Zacks Research upgraded shares of Vaxcyte (NASDAQ:PCVX – Free Report) from a strong sell rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.
PCVX has been the topic of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research note on Monday, July 6th. Wall Street Zen raised shares of Vaxcyte from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.
Read Our Latest Stock Report on PCVX
Vaxcyte Price Performance
Vaxcyte (NASDAQ:PCVX – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.97) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.06) by $0.09. During the same period in the previous year, the firm posted ($1.22) EPS. Research analysts anticipate that Vaxcyte will post -7.65 earnings per share for the current fiscal year.
Insider Activity at Vaxcyte
In related news, CEO Grant Pickering sold 22,461 shares of Vaxcyte stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $52.50, for a total value of $1,179,202.50. Following the completion of the sale, the chief executive officer directly owned 474,703 shares in the company, valued at $24,921,907.50. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harpreet S. Dhaliwal sold 17,000 shares of Vaxcyte stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $55.00, for a total transaction of $935,000.00. Following the sale, the insider owned 76,756 shares of the company’s stock, valued at $4,221,580. The trade was a 18.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 120,646 shares of company stock worth $6,570,810. 3.30% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its holdings in shares of Vaxcyte by 23.8% in the 1st quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company’s stock valued at $960,231,000 after buying an additional 3,188,687 shares during the period. BlackRock Inc. purchased a new position in shares of Vaxcyte during the 2nd quarter valued at approximately $701,520,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Vaxcyte by 35.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company’s stock valued at $521,213,000 after purchasing an additional 2,981,038 shares during the period. Wellington Management Group LLP boosted its holdings in Vaxcyte by 18.5% during the fourth quarter. Wellington Management Group LLP now owns 5,966,310 shares of the company’s stock worth $275,286,000 after buying an additional 933,539 shares in the last quarter. Finally, State Street Corp grew its position in Vaxcyte by 4.1% during the fourth quarter. State Street Corp now owns 4,980,005 shares of the company’s stock valued at $229,777,000 after buying an additional 194,116 shares during the period. 96.78% of the stock is currently 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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