Vaxcyte, Inc. (NASDAQ:PCVX) Stock Has Consensus Target Price of $98.00 According to Brokerages

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $104.40.

Several equities analysts recently issued reports on the stock. Zacks Research raised shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Bank of America dropped their price objective on shares of Vaxcyte from $133.00 to $130.00 and set a “buy” rating for the company in a research report on Monday. Wall Street Zen raised Vaxcyte from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price objective on shares of Vaxcyte in a report on Friday, September 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a research report on Monday, July 6th.

Vaxcyte Price Performance

Vaxcyte stock opened at $56.69 on Wednesday. The firm has a market capitalization of $8.44 billion, a P/E ratio of -7.43 and a beta of 1.22. The stock has a fifty day moving average price of $58.61 and a two-hundred day moving average price of $56.16. Vaxcyte has a 52-week low of $34.31 and a 52-week high of $65.00.

Vaxcyte (NASDAQ:PCVX) last issued its earnings results on Wednesday, August 5th. The company reported ($1.97) EPS for the quarter, beating the consensus estimate of ($2.06) by $0.09. During the same quarter last year, the company posted ($1.22) earnings per share. On average, equities research analysts predict that Vaxcyte will post -7.6 EPS for the current fiscal year.

Insider Transactions at Vaxcyte

In related news, insider Harpreet S. Dhaliwal sold 17,000 shares of Vaxcyte stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $55.00, for a total value of $935,000.00. Following the completion of the sale, the insider directly owned 76,756 shares in the company, valued at $4,221,580. This trade represents a 18.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Grant Pickering sold 16,198 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $55.63, for a total value of $901,094.74. Following the sale, the chief executive officer directly owned 453,247 shares of the company’s stock, valued at $25,214,130.61. This represents a 3.45% 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 three months, insiders sold 63,640 shares of company stock worth $3,556,482. 3.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Vaxcyte during the 4th quarter valued at $56,703,000. NEXTBio Capital Management LP bought a new position in shares of Vaxcyte in the 4th quarter worth $4,406,000. Bank of America Corp DE boosted its position in shares of Vaxcyte by 73.4% in the 1st quarter. Bank of America Corp DE now owns 1,216,843 shares of the company’s stock worth $70,711,000 after purchasing an additional 515,209 shares during the last quarter. Elmind Capital LP acquired a new stake in shares of Vaxcyte during the fourth quarter worth $13,450,000. Finally, Eventide Asset Management LLC grew its stake in shares of Vaxcyte by 141.8% during the fourth quarter. Eventide Asset Management LLC now owns 917,115 shares of the company’s stock worth $42,313,000 after purchasing an additional 537,785 shares during the period. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Company Profile

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing vaccines to help prevent serious bacterial infections. The company uses its cell-free protein synthesis and advanced conjugation technologies to design vaccines intended to provide broad and durable protection while addressing limitations of existing vaccine products.

Vaxcyte’s lead programs are pneumococcal conjugate vaccine candidates, including VAX-24 and VAX-31, which are designed to target a broad range of pneumococcal serotypes.