Vaxcyte (NASDAQ:PCVX) Raised to “Hold” at Zacks Research

Vaxcyte (NASDAQ:PCVXGet Free Report) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

PCVX has been the topic of a number of other research reports. Wall Street Zen upgraded Vaxcyte from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, two have issued 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 target price of $86.00.

Check Out Our Latest Stock Analysis on PCVX

Vaxcyte Price Performance

Vaxcyte stock opened at $58.86 on Wednesday. The firm has a 50 day simple moving average of $54.73 and a 200-day simple moving average of $55.49. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of -7.71 and a beta of 1.23. Vaxcyte has a 1-year low of $29.87 and a 1-year high of $65.00.

Vaxcyte (NASDAQ:PCVXGet Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) EPS for the quarter, beating the consensus estimate of ($2.06) by $0.09. During the same quarter in the previous year, the business posted ($1.22) EPS. Equities analysts expect that Vaxcyte will post -7.65 earnings per share for the current fiscal year.

Insider Activity at Vaxcyte

In other Vaxcyte news, insider Harpreet S. Dhaliwal sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $55.00, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 2,250 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $53.86, for a total value of $121,185.00. Following the transaction, the chief operating officer owned 157,541 shares in the company, valued at $8,485,158.26. This trade represents a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 120,646 shares of company stock worth $6,570,810 over the last quarter. Company insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Vaxcyte

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. NEXTBio Capital Management LP purchased a new stake in Vaxcyte during the 4th quarter worth about $4,406,000. Norges Bank acquired a new stake in Vaxcyte in the 4th quarter valued at about $56,703,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Vaxcyte by 105.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 70,124 shares of the company’s stock valued at $3,236,000 after buying an additional 35,974 shares during the period. Bank of America Corp DE boosted its stake in shares of Vaxcyte by 73.4% in the 1st quarter. Bank of America Corp DE now owns 1,216,843 shares of the company’s stock valued at $70,711,000 after buying an additional 515,209 shares during the period. Finally, Eventide Asset Management LLC grew its position in shares of Vaxcyte by 141.8% during the fourth quarter. Eventide Asset Management LLC now owns 917,115 shares of the company’s stock worth $42,313,000 after buying an additional 537,785 shares in the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

About Vaxcyte

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Vaxcyte (NASDAQ:PCVX)

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