Vaxcyte (NASDAQ:PCVX) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Vaxcyte (NASDAQ:PCVX) posted its quarterly earnings results on Wednesday. The company reported ($1.99) earnings per share for the quarter, beating the consensus estimate of ($2.11) by $0.12, FiscalAI reports. During the same quarter in the previous year, the firm posted ($1.56) earnings per share.

Vaxcyte Stock Performance

PCVX stock traded down $3.15 during mid-day trading on Thursday, reaching $62.53. The company had a trading volume of 462,333 shares, compared to its average volume of 1,634,560. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of -8.19 and a beta of 1.31. The firm has a fifty day simple moving average of $61.64 and a 200 day simple moving average of $57.16. Vaxcyte has a fifty-two week low of $40.14 and a fifty-two week high of $90.75.

Insider Transactions at Vaxcyte

In related news, CAO Elvia Cowan sold 19,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 27,860 shares in the company, valued at approximately $2,416,576.40. This represents a 40.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jim Wassil sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $86.74, for a total transaction of $1,561,320.00. Following the completion of the sale, the executive vice president directly owned 145,435 shares in the company, valued at approximately $12,615,031.90. This trade represents a 11.01% decrease in their position. 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 have sold 50,692 shares of company stock valued at $4,032,875. Corporate insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

PCVX has been the subject of a number of research reports. Zacks Research raised Vaxcyte from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. BTIG Research reiterated a “buy” rating and set a $89.00 price target on shares of Vaxcyte in a research note on Monday, October 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a research note on Friday, October 2nd. Wall Street Zen raised shares of Vaxcyte from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Needham & Company LLC increased their target price on shares of Vaxcyte from $110.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Vaxcyte has an average rating of “Moderate Buy” and a consensus price target of $110.50.

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.