Vaxcyte (NASDAQ:PCVX) CAO Sells $1,648,060.00 in Stock

Vaxcyte, Inc. (NASDAQ:PCVX) CAO Elvia Cowan sold 19,000 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $86.74, for a total transaction of $1,648,060.00. Following the completion of the transaction, the chief accounting officer directly owned 27,860 shares of the company’s stock, valued at $2,416,576.40. The trade was a 40.55% decrease in their position. The sale was disclosed in a legal 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.

Vaxcyte Stock Up 9.8%

Shares of Vaxcyte stock opened at $71.38 on Friday. The business’s fifty day moving average is $60.09 and its two-hundred day moving average is $56.67. Vaxcyte, Inc. has a fifty-two week low of $39.87 and a fifty-two week high of $90.75. The firm has a market cap of $10.62 billion, a PE ratio of -9.36 and a beta of 1.23.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.06) by $0.09. During the same quarter in the previous year, the company posted ($1.22) EPS. Equities research analysts anticipate that Vaxcyte, Inc. will post -7.60 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PCVX shares. Wall Street Zen raised shares of Vaxcyte from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Zacks Research raised shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Bank of America reduced their price target on shares of Vaxcyte from $133.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, September 28th. Guggenheim increased their target price on shares of Vaxcyte from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Monday. Finally, BTIG Research restated a “buy” rating and set a $89.00 price objective on shares of Vaxcyte in a research report on Monday, October 5th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $108.60.

Trending Headlines about Vaxcyte

Here are the key news stories impacting Vaxcyte this week:

• Positive Sentiment: Vaxcyte announced the closing of approximately $1.15 billion in concurrent offerings of common stock, pre-funded warrants and convertible senior notes, including the full exercise of the underwriters’ option. The proceeds provide substantial funding for clinical development and preparations to commercialize its pneumococcal vaccine candidates. Vaxcyte Announces Closing of $1.15 Billion Offerings
• Positive Sentiment: Recent positive Phase 3 data for VAX-31 in adults continued to support the investment case. The late-stage result improves the program’s regulatory and commercial prospects and has renewed investor interest in Vaxcyte. Weekly Buzz: PCVX Reports Positive Trial Data
• Positive Sentiment: Guggenheim raised its price target for Vaxcyte from $116 to $125, adding to bullish analyst sentiment following the clinical update. Other analysts cited in recent reports maintain Buy ratings, with targets well above recent trading levels. Guggenheim Raises Vaxcyte Price Target
• Neutral Sentiment: Executives Jim Wassil and Elvia Cowan sold 18,000 and 19,000 shares, respectively. The transactions were disclosed under pre-arranged trading plans, limiting their usefulness as a signal of current management confidence. Jim Wassil Insider Sale Elvia Cowan Insider Sale
• Negative Sentiment: The financing’s common-stock issuance, pre-funded warrants and potentially convertible notes may increase the share count and dilute existing shareholders. This could temper the positive impact of the clinical and analyst news.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jupiter Topco LLC bought a new position in shares of Vaxcyte during the 2nd quarter worth about $1,044,355,000. Janus Henderson Group PLC raised its holdings in shares of Vaxcyte by 23.8% in the first quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company’s stock valued at $960,231,000 after buying an additional 3,188,687 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Vaxcyte during the second quarter worth approximately $701,520,000. T. Rowe Price Investment Management Inc. boosted its position in Vaxcyte by 35.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company’s stock valued at $521,213,000 after buying an additional 2,981,038 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Vaxcyte by 24.7% in the second quarter. Wellington Management Group LLP now owns 7,001,565 shares of the company’s stock valued at $407,001,000 after acquiring an additional 1,386,968 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 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.