Vaxcyte, Inc. (NASDAQ:PCVX) Receives $86.00 Consensus Target Price from Brokerages

Vaxcyte, Inc. (NASDAQ:PCVX) has earned an average recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $86.00.

A number of research analysts have weighed in on PCVX shares. Wall Street Zen raised Vaxcyte from a “strong sell” rating to a “sell” rating in a report on Saturday. Zacks Research lowered shares of Vaxcyte from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a report on Monday, July 6th.

Insider Buying and Selling at Vaxcyte

In other news, CFO Andrew Guggenhime sold 10,000 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $57.28, for a total value of $572,800.00. Following the completion of the sale, the chief financial officer directly owned 104,395 shares in the company, valued at $5,979,745.60. This represents a 8.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 2,250 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $49.52, for a total value of $111,420.00. Following the completion of the transaction, the chief operating officer directly owned 158,494 shares in the company, valued at approximately $7,848,622.88. This represents a 1.40% 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 quarter, insiders have sold 120,646 shares of company stock worth $6,570,810. 3.30% of the stock is owned by insiders.

Institutional Trading of Vaxcyte

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 buying an additional 15,774 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Vaxcyte during the 1st quarter valued at approximately $219,000. Caxton Associates LLP purchased a new stake in Vaxcyte in the 1st quarter worth approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Vaxcyte by 8.7% in the 1st 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 acquiring an additional 41,034 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Vaxcyte by 13.8% during the 2nd quarter. Cetera Investment Advisers now owns 7,681 shares of the company’s stock worth $250,000 after acquiring an additional 932 shares during the period. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Vaxcyte Trading Up 0.4%

NASDAQ:PCVX opened at $58.29 on Tuesday. The company has a market cap of $8.42 billion, a PE ratio of -7.64 and a beta of 1.23. The company has a 50 day simple moving average of $54.04 and a two-hundred day simple moving average of $55.35. Vaxcyte has a 12 month low of $29.50 and a 12 month high of $65.00.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share for the quarter, beating the consensus estimate of ($2.06) by $0.09. During the same period in the prior year, the firm earned ($1.22) EPS. Research analysts forecast that Vaxcyte will post -7.82 earnings per share for the current year.

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.