Vaxcyte (NASDAQ:PCVX) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Vaxcyte, Inc. (NASDAQ:PCVX)’s stock price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $61.59 and traded as high as $63.14. Vaxcyte shares last traded at $62.61, with a volume of 2,013,762 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $120.00 price target on shares of Vaxcyte in a report on Monday, October 12th. Zacks Research raised Vaxcyte from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Bank of America cut their price objective on Vaxcyte from $133.00 to $130.00 and set a “buy” rating for the company in a report on Monday, September 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a research report on Friday, October 2nd. Finally, Guggenheim increased their target price on Vaxcyte from $116.00 to $125.00 and gave the company a “buy” rating in a report on Monday, October 5th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.50.

Vaxcyte Price Performance

The firm’s 50-day moving average is $61.61 and its 200-day moving average is $56.94. The company has a market capitalization of $9.23 billion, a P/E ratio of -8.13 and a beta of 1.23.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share for the quarter, topping the consensus estimate of ($2.06) by $0.09. During the same quarter in the prior year, the company earned ($1.22) earnings per share. As a group, analysts forecast that Vaxcyte, Inc. will post -7.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jim Wassil sold 18,000 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $86.74, for a total value of $1,561,320.00. Following the transaction, the executive vice president directly owned 145,435 shares of the company’s stock, valued at approximately $12,615,031.90. This trade represents a 11.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 19,000 shares of Vaxcyte stock in a transaction on Monday, October 5th. The shares were sold at an average price of $86.74, for a total value of $1,648,060.00. Following the transaction, the chief accounting officer owned 27,860 shares in the company, valued at $2,416,576.40. This trade represents a 40.55% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 74,692 shares of company stock valued at $5,308,175. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. First Light Asset Management LLC increased its holdings in Vaxcyte by 143.4% in the 2nd quarter. First Light Asset Management LLC now owns 345,157 shares of the company’s stock valued at $20,064,000 after acquiring an additional 203,373 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Vaxcyte by 73.4% in the first quarter. Bank of America Corp DE now owns 1,216,843 shares of the company’s stock worth $70,711,000 after buying an additional 515,209 shares in the last quarter. Candriam S.C.A. purchased a new stake in shares of Vaxcyte in the first quarter worth about $18,306,000. Seven Fleet Capital Management LP boosted its stake in Vaxcyte by 406.4% during the first quarter. Seven Fleet Capital Management LP now owns 128,450 shares of the company’s stock valued at $7,464,000 after buying an additional 103,085 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in Vaxcyte during the second quarter valued at approximately $1,906,000. 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 designed to protect against serious bacterial diseases. The company is headquartered in San Carlos, California, and uses its proprietary cell-free protein synthesis and conjugation technologies to develop vaccine candidates intended to provide broad and durable immune protection.

Vaxcyte’s lead programs target pneumococcal disease, an infection caused by Streptococcus pneumoniae.