Vaxcyte (NASDAQ:PCVX) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $95.00 price target on the stock.

Separately, Cantor Fitzgerald reissued an overweight rating on shares of Vaxcyte in a report on Thursday, June 20th.

Vaxcyte Stock Up 1.9 %

Shares of PCVX opened at $76.94 on Friday. The company has a market capitalization of $8.37 billion, a PE ratio of -17.98 and a beta of 0.97. Vaxcyte has a 52-week low of $44.20 and a 52-week high of $82.04. The company has a 50-day simple moving average of $69.90 and a 200-day simple moving average of $68.12.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.28. On average, research analysts anticipate that Vaxcyte will post -3.96 EPS for the current year.

Insider Transactions at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $61.92, for a total transaction of $928,800.00. Following the sale, the chief executive officer now owns 477,847 shares in the company, valued at approximately $29,588,286.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $61.92, for a total value of $928,800.00. Following the transaction, the chief executive officer now directly owns 477,847 shares in the company, valued at approximately $29,588,286.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Halley E. Gilbert sold 18,200 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $1,328,600.00. Following the sale, the director now directly owns 5,625 shares in the company, valued at $410,625. The disclosure for this sale can be found here. Insiders sold a total of 86,483 shares of company stock valued at $6,048,133 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. UBS Group AG grew its position in shares of Vaxcyte by 62.2% in the third quarter. UBS Group AG now owns 74,305 shares of the company’s stock valued at $3,788,000 after purchasing an additional 28,483 shares during the period. PNC Financial Services Group Inc. grew its holdings in Vaxcyte by 1,122.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,575 shares of the company’s stock valued at $284,000 after buying an additional 5,119 shares during the period. Northern Trust Corp grew its holdings in Vaxcyte by 4.1% in the 3rd quarter. Northern Trust Corp now owns 896,635 shares of the company’s stock valued at $45,710,000 after buying an additional 35,694 shares during the period. Trexquant Investment LP increased its stake in shares of Vaxcyte by 722.0% during the 3rd quarter. Trexquant Investment LP now owns 43,329 shares of the company’s stock valued at $2,209,000 after acquiring an additional 38,058 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Vaxcyte by 9.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 266,021 shares of the company’s stock worth $13,562,000 after acquiring an additional 23,943 shares during the period. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Vaxcyte Company Profile

Vaxcyte, Inc, a clinical-stage biotechnology vaccine company, develops novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease. The company also develops VAX-31 to protect against emerging strains and to help address antibiotic resistance; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting keystone pathogen responsible for periodontitis; and VAX-GI to prevent Shigella, a bacterial illness.