Vaxcyte, Inc. (NASDAQ:PCVX – Get Free Report) EVP Jim Wassil sold 18,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $86.74, for a total value of $1,561,320.00. Following the sale, the executive vice president owned 145,435 shares in the company, valued at $12,615,031.90. This trade represents a 11.01% decrease in their ownership of the stock. 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.
Jim Wassil also recently made the following trade(s):
- On Thursday, October 1st, Jim Wassil sold 2,250 shares of Vaxcyte stock. The stock was sold at an average price of $56.67, for a total value of $127,507.50.
- On Wednesday, September 9th, Jim Wassil sold 1,334 shares of Vaxcyte stock. The stock was sold at an average price of $59.52, for a total transaction of $79,399.68.
- On Friday, September 4th, Jim Wassil sold 1,381 shares of Vaxcyte stock. The shares were sold at an average price of $61.16, for a total value of $84,461.96.
- On Tuesday, September 1st, Jim Wassil sold 3,477 shares of Vaxcyte stock. The shares were sold at an average price of $61.07, for a total transaction of $212,340.39.
- On Monday, August 3rd, Jim Wassil sold 2,250 shares of Vaxcyte stock. The stock was sold at an average price of $53.86, for a total value of $121,185.00.
Vaxcyte Stock Up 9.8%
NASDAQ:PCVX opened at $71.38 on Friday. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of -9.36 and a beta of 1.23. Vaxcyte, Inc. has a 52 week low of $39.87 and a 52 week high of $90.75. The stock’s fifty day moving average is $60.09 and its two-hundred day moving average is $56.67.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCVX. Hsbc Holdings PLC grew its position in shares of Vaxcyte by 4.0% during the second quarter. Hsbc Holdings PLC now owns 4,151 shares of the company’s stock worth $241,000 after acquiring an additional 159 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in Vaxcyte by 2.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,335 shares of the company’s stock valued at $484,000 after acquiring an additional 231 shares in the last quarter. IFP Advisors Inc raised its stake in Vaxcyte by 72.8% during the 2nd quarter. IFP Advisors Inc now owns 560 shares of the company’s stock valued at $33,000 after acquiring an additional 236 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Vaxcyte by 27.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,344 shares of the company’s stock worth $78,000 after purchasing an additional 291 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Vaxcyte by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 5,275 shares of the company’s stock valued at $307,000 after buying an additional 343 shares during the period. Institutional investors and hedge funds own 96.78% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently commented on PCVX shares. Guggenheim raised their target price on shares of Vaxcyte from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Research upgraded shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Needham & Company LLC upped their target price on Vaxcyte from $110.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Bank of America decreased their price target on shares of Vaxcyte from $133.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, September 28th. Finally, Wall Street Zen upgraded shares of Vaxcyte from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Six equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.60.
Check Out Our Latest Stock Report on PCVX
More Vaxcyte News
Here are the key news stories impacting Vaxcyte this week:
- Positive Sentiment: Vaxcyte announced the closing of approximately $1.15 billion in concurrent offerings of common stock, pre-funded warrants and convertible senior notes, including the full exercise of the underwriters’ option. The proceeds provide substantial funding for clinical development and preparations to commercialize its pneumococcal vaccine candidates. Vaxcyte Announces Closing of $1.15 Billion Offerings
- Positive Sentiment: Recent positive Phase 3 data for VAX-31 in adults continued to support the investment case. The late-stage result improves the program’s regulatory and commercial prospects and has renewed investor interest in Vaxcyte. Weekly Buzz: PCVX Reports Positive Trial Data
- Positive Sentiment: Guggenheim raised its price target for Vaxcyte from $116 to $125, adding to bullish analyst sentiment following the clinical update. Other analysts cited in recent reports maintain Buy ratings, with targets well above recent trading levels. Guggenheim Raises Vaxcyte Price Target
- Neutral Sentiment: Executives Jim Wassil and Elvia Cowan sold 18,000 and 19,000 shares, respectively. The transactions were disclosed under pre-arranged trading plans, limiting their usefulness as a signal of current management confidence. Jim Wassil Insider Sale Elvia Cowan Insider Sale
- Negative Sentiment: The financing’s common-stock issuance, pre-funded warrants and potentially convertible notes may increase the share count and dilute existing shareholders. This could temper the positive impact of the clinical and analyst news.
Vaxcyte Company Profile
Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing vaccines to help prevent serious bacterial infections. The company uses its cell-free protein synthesis and advanced conjugation technologies to design vaccines intended to provide broad and durable protection while addressing limitations of existing vaccine products.
Vaxcyte’s lead programs are pneumococcal conjugate vaccine candidates, including VAX-24 and VAX-31, which are designed to target a broad range of pneumococcal serotypes.
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