Vaxcyte, Inc. (NASDAQ:PCVX) Receives $94.50 Average PT from Brokerages

Vaxcyte, Inc. (NASDAQ:PCVX) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $94.50.

A number of equities analysts recently issued reports on the stock. Leerink Partners set a $77.00 target price on shares of Vaxcyte and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Jefferies Financial Group reissued a “buy” rating on shares of Vaxcyte in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a report on Friday, January 9th. Guggenheim reaffirmed a “buy” rating and set a $116.00 price objective on shares of Vaxcyte in a research report on Monday, February 2nd. Finally, Needham & Company LLC increased their target price on shares of Vaxcyte from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th.

Vaxcyte Stock Down 2.9%

Shares of NASDAQ PCVX opened at $54.58 on Friday. Vaxcyte has a 12 month low of $27.66 and a 12 month high of $76.61. The company has a market cap of $7.86 billion, a P/E ratio of -9.71 and a beta of 1.31. The business’s 50 day moving average is $54.08 and its two-hundred day moving average is $45.80.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.34). During the same period in the prior year, the business posted ($1.12) earnings per share. Sell-side analysts expect that Vaxcyte will post -4.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Vaxcyte

In other Vaxcyte news, COO Jim Wassil sold 7,395 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $58.88, for a total value of $435,417.60. Following the completion of the transaction, the chief operating officer owned 166,818 shares of the company’s stock, valued at $9,822,243.84. This represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Harpreet S. Dhaliwal sold 9,743 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $46.69, for a total value of $454,900.67. Following the completion of the sale, the insider owned 23,928 shares of the company’s stock, valued at $1,117,198.32. This represents a 28.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,261 shares of company stock valued at $1,593,767 in the last quarter. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Vaxcyte

A number of institutional investors have recently bought and sold shares of PCVX. Caitong International Asset Management Co. Ltd increased its holdings in Vaxcyte by 1,924.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 830 shares of the company’s stock valued at $38,000 after buying an additional 789 shares during the period. Seven Fleet Capital Management LP acquired a new position in shares of Vaxcyte in the 4th quarter valued at $1,170,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Vaxcyte by 35.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company’s stock worth $521,213,000 after acquiring an additional 2,981,038 shares during the period. Alberta Investment Management Corp bought a new position in shares of Vaxcyte during the 4th quarter worth about $1,389,000. Finally, Vident Advisory LLC boosted its position in shares of Vaxcyte by 12.9% during the 4th quarter. Vident Advisory LLC now owns 8,821 shares of the company’s stock valued at $407,000 after acquiring an additional 1,007 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.

About Vaxcyte

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.