Vaxcyte, Inc. (NASDAQ:PCVX – Get Free Report) crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $61.59 and traded as high as $63.14. Vaxcyte shares last traded at $62.61, with a volume of 2,013,762 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on PCVX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research report on Friday, October 2nd. Needham & Company LLC lifted their price objective on Vaxcyte from $110.00 to $122.00 and gave the company a “buy” rating in a report on Monday, October 5th. BTIG Research reaffirmed a “buy” rating and issued a $89.00 price objective on shares of Vaxcyte in a research note on Monday, October 5th. Zacks Research upgraded shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, Guggenheim increased their target price on shares of Vaxcyte from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $110.50.
Check Out Our Latest Analysis on Vaxcyte
Vaxcyte Stock Up 1.9%
The company has a market cap of $9.32 billion, a P/E ratio of -8.21 and a beta of 1.23. The business’s 50 day moving average is $61.59 and its 200 day moving average is $56.85.
Vaxcyte (NASDAQ:PCVX – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.06) by $0.09. During the same period in the previous year, the business posted ($1.22) EPS. As a group, equities research analysts forecast that Vaxcyte, Inc. will post -7.47 EPS for the current year.
Insider Buying and Selling
In related news, EVP Jim Wassil sold 18,000 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $86.74, for a total transaction of $1,561,320.00. Following the completion of the sale, the executive vice president directly owned 145,435 shares in the company, valued at $12,615,031.90. This represents a 11.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 19,000 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $86.74, for a total value of $1,648,060.00. Following the sale, the chief accounting officer owned 27,860 shares of the company’s stock, valued at $2,416,576.40. This trade represents a 40.55% decrease in their ownership of the stock. 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 74,692 shares of company stock valued at $5,308,175. 3.30% of the stock is currently owned by insiders.
Institutional Trading of Vaxcyte
Hedge funds have recently modified their holdings of the company. Jupiter Topco LLC bought a new stake in shares of Vaxcyte in the 2nd quarter valued at about $1,044,355,000. Janus Henderson Group PLC grew its position 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 worth $960,231,000 after buying an additional 3,188,687 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Vaxcyte in the 2nd quarter worth approximately $701,520,000. Wellington Management Group LLP raised its stake in shares of Vaxcyte by 24.7% during the 2nd quarter. Wellington Management Group LLP now owns 7,001,565 shares of the company’s stock worth $407,001,000 after acquiring an additional 1,386,968 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Vaxcyte by 150.6% during the 1st quarter. Jennison Associates LLC now owns 1,698,011 shares of the company’s stock worth $98,671,000 after acquiring an additional 1,020,458 shares in the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.
About Vaxcyte
Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing vaccines designed to protect against serious bacterial diseases. The company is headquartered in San Carlos, California, and uses its proprietary cell-free protein synthesis and conjugation technologies to develop vaccine candidates intended to provide broad and durable immune protection.
Vaxcyte’s lead programs target pneumococcal disease, an infection caused by Streptococcus pneumoniae.
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