Grant Pickering Sells 22,237 Shares of Vaxcyte (NASDAQ:PCVX) Stock

Vaxcyte, Inc. (NASDAQ:PCVX) CEO Grant Pickering sold 22,237 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $55.21, for a total transaction of $1,227,704.77. Following the sale, the chief executive officer directly owned 452,466 shares in the company, valued at $24,980,647.86. This trade represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Grant Pickering also recently made the following trade(s):

• On Friday, June 26th, Grant Pickering sold 2,000 shares of Vaxcyte stock. The stock was sold at an average price of $55.23, for a total value of $110,460.00.
• On Thursday, June 18th, Grant Pickering sold 2,000 shares of Vaxcyte stock. The shares were sold at an average price of $52.50, for a total value of $105,000.00.
• On Thursday, June 18th, Grant Pickering sold 22,461 shares of Vaxcyte stock. The shares were sold at an average price of $52.50, for a total value of $1,179,202.50.

Vaxcyte Stock Up 5.3%

Shares of PCVX stock traded up $2.84 during trading on Friday, reaching $56.52. 8,654,447 shares of the company’s stock were exchanged, compared to its average volume of 1,490,102. The stock has a market capitalization of $8.16 billion, a PE ratio of -8.22 and a beta of 1.24. Vaxcyte, Inc. has a twelve month low of $29.08 and a twelve month high of $65.00. The firm’s fifty day moving average price is $52.68 and its 200-day moving average price is $52.93.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.74) by ($0.56). During the same quarter last year, the company posted ($1.04) earnings per share. As a group, analysts anticipate that Vaxcyte, Inc. will post -7.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of Vaxcyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Jefferies Financial Group reiterated a “buy” rating on shares of Vaxcyte in a research note on Tuesday, March 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a research report on Wednesday, April 8th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Institutional Investors Weigh In On Vaxcyte

A number of institutional investors have recently modified their holdings of PCVX. Empowered Funds LLC increased its position in Vaxcyte by 111.8% during the first quarter. Empowered Funds LLC now owns 9,692 shares of the company’s stock worth $563,000 after acquiring an additional 5,116 shares during the period. Seven Fleet Capital Management LP grew its position in Vaxcyte by 406.4% during the first quarter. Seven Fleet Capital Management LP now owns 128,450 shares of the company’s stock worth $7,464,000 after buying an additional 103,085 shares in the last quarter. DV Trading LLC bought a new position in Vaxcyte during the 1st quarter worth $1,162,000. Bank of America Corp DE increased 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 purchasing an additional 515,209 shares during the period. Finally, Stempoint Capital LP bought a new position in shares of Vaxcyte in the first quarter worth $3,432,000. 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 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.