Vaxcyte (NASDAQ:PCVX) Issues Quarterly Earnings Results

Vaxcyte (NASDAQ:PCVX) announced its quarterly earnings data on Tuesday. The company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.33), Zacks reports.

Vaxcyte Price Performance

NASDAQ PCVX traded down $1.48 on Tuesday, reaching $41.35. The stock had a trading volume of 1,907,760 shares, compared to its average volume of 1,776,874. The company has a market cap of $5.37 billion, a P/E ratio of -10.06 and a beta of 1.06. The firm has a fifty day moving average of $37.24 and a two-hundred day moving average of $34.75. Vaxcyte has a 1-year low of $27.66 and a 1-year high of $116.00.

Institutional Trading of Vaxcyte

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of Vaxcyte by 115.2% in the first quarter. Royal Bank of Canada now owns 29,471 shares of the company’s stock valued at $1,113,000 after buying an additional 15,774 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Vaxcyte by 156.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,306 shares of the company’s stock worth $303,000 after acquiring an additional 5,672 shares during the period. E Fund Management Co. Ltd. raised its holdings in Vaxcyte by 49.3% in the 2nd quarter. E Fund Management Co. Ltd. now owns 18,398 shares of the company’s stock valued at $598,000 after acquiring an additional 6,079 shares in the last quarter. Vident Advisory LLC bought a new stake in shares of Vaxcyte during the 2nd quarter valued at $327,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Vaxcyte during the 2nd quarter worth $442,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PCVX. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research report on Tuesday, October 14th. The Goldman Sachs Group initiated coverage on Vaxcyte in a research note on Friday, September 12th. They set a “neutral” rating and a $38.00 target price for the company. Finally, Cowen reissued a “buy” rating on shares of Vaxcyte in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.25.

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.