Vaxcyte (NASDAQ:PCVX) Shares Up 3.9% – What’s Next?

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) traded up 3.9% on Wednesday . The stock traded as high as $47.27 and last traded at $47.1860. 207,483 shares were traded during trading, a decline of 88% from the average session volume of 1,716,192 shares. The stock had previously closed at $45.41.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PCVX. Leerink Partners set a $77.00 target price on shares of Vaxcyte and gave the company an “outperform” rating in a research report on Wednesday, November 19th. The Goldman Sachs Group initiated coverage on shares of Vaxcyte in a research note on Friday, September 12th. They issued a “neutral” rating and a $38.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a report on Tuesday, October 14th. Finally, BTIG Research reiterated a “buy” rating and issued a $85.00 price target on shares of Vaxcyte in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.83.

Vaxcyte Stock Up 2.4%

The company has a 50 day moving average price of $45.63 and a 200-day moving average price of $38.48. The company has a market cap of $6.09 billion, a price-to-earnings ratio of -9.60 and a beta of 1.28.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Tuesday, November 4th. The company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.29). During the same period in the previous year, the company earned ($0.83) EPS. On average, analysts forecast that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

Insider Transactions at Vaxcyte

In other Vaxcyte news, SVP Elvia Cowan sold 11,623 shares of Vaxcyte stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $47.92, for a total transaction of $556,974.16. Following the transaction, the senior vice president directly owned 14,534 shares of the company’s stock, valued at approximately $696,469.28. The trade was a 44.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vaxcyte

Several institutional investors and hedge funds have recently made changes to their positions in PCVX. FNY Investment Advisers LLC acquired a new position in shares of Vaxcyte in the third quarter worth approximately $72,000. Allworth Financial LP boosted its stake in shares of Vaxcyte by 148.9% in the 3rd quarter. Allworth Financial LP now owns 1,222 shares of the company’s stock valued at $44,000 after purchasing an additional 731 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Vaxcyte by 30.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,565,036 shares of the company’s stock valued at $56,373,000 after purchasing an additional 366,266 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Vaxcyte by 22,500.0% during the third quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company’s stock worth $49,000 after buying an additional 1,350 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new position in Vaxcyte during the third quarter worth $440,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

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.