Vaxcyte, Inc. (NASDAQ:PCVX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Vaxcyte, Inc. (NASDAQ:PCVX) has earned an average rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $86.00.

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a report on Wednesday, April 8th. Wall Street Zen cut Vaxcyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 28th. BTIG Research upped their price objective on Vaxcyte from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Vaxcyte in a research note on Tuesday, March 10th.

Vaxcyte Stock Performance

NASDAQ PCVX opened at $51.44 on Monday. The company has a market cap of $7.43 billion, a P/E ratio of -7.48 and a beta of 1.24. The business’s 50 day moving average price is $53.38 and its 200-day moving average price is $52.69. Vaxcyte has a fifty-two week low of $29.08 and a fifty-two week high of $65.00.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing the consensus estimate of ($1.74) by ($0.56). During the same quarter in the prior year, the company earned ($1.04) earnings per share. As a group, equities analysts predict that Vaxcyte will post -7.56 EPS for the current year.

Insider Buying and Selling

In other Vaxcyte news, CEO Grant Pickering sold 2,000 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $52.50, for a total value of $105,000.00. Following the completion of the sale, the chief executive officer directly owned 135,215 shares in the company, valued at approximately $7,098,787.50. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 3,000 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $60.00, for a total value of $180,000.00. Following the completion of the sale, the chief accounting officer owned 28,975 shares of the company’s stock, valued at approximately $1,738,500. This trade represents a 9.38% 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. Over the last 90 days, insiders have sold 41,961 shares of company stock valued at $2,233,490. Company insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Vaxcyte

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its stake 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 worth $1,113,000 after purchasing an additional 15,774 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Vaxcyte in the first quarter worth about $219,000. Caxton Associates LLP purchased a new position in shares of Vaxcyte in the first quarter worth about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Vaxcyte by 8.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 513,998 shares of the company’s stock worth $19,409,000 after purchasing an additional 41,034 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Vaxcyte by 13.8% in the second quarter. Cetera Investment Advisers now owns 7,681 shares of the company’s stock worth $250,000 after purchasing an additional 932 shares during the last quarter. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Company Profile

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.