Vaxcyte, Inc. (NASDAQ:PCVX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Vaxcyte, Inc. (NASDAQ:PCVX) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $86.00.

PCVX has been the subject of several analyst reports. Zacks Research raised shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Vaxcyte from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a research note on Monday, July 6th.

Insider Activity

In other Vaxcyte news, CFO Andrew Guggenhime sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $53.89, for a total transaction of $538,900.00. Following the transaction, the chief financial officer owned 105,176 shares of the company’s stock, valued at $5,667,934.64. The trade was a 8.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harpreet S. Dhaliwal sold 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $55.00, for a total value of $935,000.00. Following the completion of the sale, the insider owned 76,756 shares in the company, valued at $4,221,580. This represents a 18.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 121,873 shares of company stock valued at $6,671,730 in the last 90 days. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vaxcyte

Hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LP boosted its holdings in shares of Vaxcyte by 866.3% during the 2nd quarter. Corient Private Wealth LP now owns 36,894 shares of the company’s stock worth $2,145,000 after buying an additional 33,076 shares during the period. California State Teachers Retirement System raised its holdings in Vaxcyte by 5,915.2% in the 2nd quarter. California State Teachers Retirement System now owns 8,186,622 shares of the company’s stock valued at $475,888,000 after acquiring an additional 8,050,522 shares during the period. Readystate Asset Management LP raised its holdings in Vaxcyte by 332.5% in the 2nd quarter. Readystate Asset Management LP now owns 156,090 shares of the company’s stock valued at $9,074,000 after acquiring an additional 120,000 shares during the period. Nykredit A S acquired a new stake in Vaxcyte during the second quarter worth approximately $1,235,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in Vaxcyte during the second quarter worth approximately $4,412,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

Vaxcyte Stock Performance

PCVX opened at $61.16 on Friday. The business’s 50-day simple moving average is $58.22 and its 200 day simple moving average is $56.20. Vaxcyte has a 52-week low of $30.81 and a 52-week high of $65.00. The firm has a market capitalization of $9.10 billion, a PE ratio of -8.02 and a beta of 1.22.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.06) by $0.09. During the same period in the prior year, the company earned ($1.22) earnings per share. On average, research analysts forecast that Vaxcyte will post -7.6 earnings per share for the current year.

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.