Vaxcyte, Inc. (NASDAQ:PCVX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Vaxcyte, Inc. (NASDAQ:PCVX) has received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $86.00.

A number of equities research analysts have issued reports on PCVX shares. Wall Street Zen downgraded Vaxcyte from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Jefferies Financial Group reissued a “buy” rating on shares of Vaxcyte in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research report on Wednesday, April 8th. Finally, BTIG Research boosted their price target on Vaxcyte from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th.

Vaxcyte Stock Performance

PCVX stock opened at $51.44 on Monday. The stock has a 50-day moving average price of $53.38 and a two-hundred day moving average price of $52.74. Vaxcyte has a 12-month low of $29.08 and a 12-month high of $65.00. The company has a market cap of $7.43 billion, a PE ratio of -7.48 and a beta of 1.24.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.74) by ($0.56). During the same quarter in the previous year, the firm earned ($1.04) earnings per share. Equities analysts forecast that Vaxcyte will post -7.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Vaxcyte news, CEO Grant Pickering sold 22,461 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $52.50, for a total transaction of $1,179,202.50. Following the transaction, the chief executive officer owned 474,703 shares in the company, valued at $24,921,907.50. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 3,000 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $60.00, for a total value of $180,000.00. Following the transaction, the chief accounting officer owned 28,975 shares in the company, valued at approximately $1,738,500. This represents a 9.38% decrease in their position. 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. In the last ninety days, insiders have sold 41,961 shares of company stock worth $2,233,490. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its stake in shares of Vaxcyte by 156.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the company’s stock worth $27,000 after purchasing an additional 364 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Vaxcyte by 1,463.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 641 shares of the company’s stock worth $30,000 after purchasing an additional 600 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Vaxcyte by 33.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $34,000 after purchasing an additional 184 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Vaxcyte by 148.9% during the third quarter. Allworth Financial LP now owns 1,222 shares of the company’s stock worth $44,000 after purchasing an additional 731 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Vaxcyte during the third quarter worth about $45,000. 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.