Vaxcyte (NASDAQ:PCVX) Releases Earnings Results, Misses Estimates By $0.56 EPS

Vaxcyte (NASDAQ:PCVX) released its quarterly earnings data on Wednesday. The company reported ($2.30) earnings per share for the quarter, missing the consensus estimate of ($1.74) by ($0.56), FiscalAI reports. During the same quarter last year, the business earned ($1.04) earnings per share.

Vaxcyte Price Performance

Vaxcyte stock traded up $1.46 during midday trading on Wednesday, hitting $57.10. 1,600,114 shares of the company were exchanged, compared to its average volume of 1,140,789. The company has a market cap of $8.24 billion, a PE ratio of -10.16 and a beta of 1.30. Vaxcyte has a fifty-two week low of $28.09 and a fifty-two week high of $65.00. The company’s fifty day moving average price is $58.60 and its 200-day moving average price is $51.77.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PCVX shares. Needham & Company LLC raised their price target on shares of Vaxcyte from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Jefferies Financial Group reiterated a “buy” rating on shares of Vaxcyte in a research note on Tuesday, March 10th. BTIG Research increased their price objective on shares of Vaxcyte from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research note on Wednesday, April 8th. Finally, Wall Street Zen lowered shares of Vaxcyte from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 28th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.00.

Insider Buying and Selling

In other news, COO Jim Wassil sold 2,250 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.83, for a total value of $127,867.50. Following the completion of the transaction, the chief operating officer directly owned 160,744 shares in the company, valued at approximately $9,135,081.52. This represents a 1.38% decrease in their ownership of the stock. 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 3,000 shares of the company’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $60.00, for a total transaction of $180,000.00. Following the completion of the transaction, the chief accounting officer owned 28,975 shares of the company’s stock, valued at $1,738,500. This trade represents a 9.38% 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. Insiders have sold 17,037 shares of company stock worth $994,899 in the last quarter. Insiders own 3.10% of the company’s stock.

Institutional Trading of Vaxcyte

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its stake in shares of Vaxcyte by 18.5% in the fourth quarter. Wellington Management Group LLP now owns 5,966,310 shares of the company’s stock worth $275,286,000 after acquiring an additional 933,539 shares in the last quarter. State Street Corp boosted its holdings in Vaxcyte by 4.1% in the fourth quarter. State Street Corp now owns 4,980,005 shares of the company’s stock valued at $229,777,000 after purchasing an additional 194,116 shares during the last quarter. Paradigm Biocapital Advisors LP grew its stake in Vaxcyte by 7.5% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,068,020 shares of the company’s stock valued at $187,698,000 after purchasing an additional 283,265 shares in the last quarter. Deep Track Capital LP grew its stake in Vaxcyte by 39.5% during the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $108,060,000 after purchasing an additional 850,000 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Vaxcyte by 418.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,725,000 shares of the company’s stock worth $79,592,000 after purchasing an additional 1,392,000 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

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.