Vaxcyte (NASDAQ:PCVX) Insider Sells 17,000 Shares of Stock

Vaxcyte, Inc. (NASDAQ:PCVX) insider Harpreet Dhaliwal sold 17,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $55.00, for a total transaction of $935,000.00. Following the transaction, the insider owned 76,756 shares of the company’s stock, valued at $4,221,580. This trade represents a 18.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vaxcyte Price Performance

PCVX stock traded up $1.23 during midday trading on Wednesday, reaching $55.92. 886,273 shares of the stock were exchanged, compared to its average volume of 972,456. The company has a fifty day moving average price of $53.56 and a 200 day moving average price of $55.10. Vaxcyte, Inc. has a 52 week low of $29.08 and a 52 week high of $65.00. The stock has a market capitalization of $8.07 billion, a PE ratio of -8.13 and a beta of 1.23.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.97) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.06) by $0.09. During the same quarter in the prior year, the business posted ($1.22) earnings per share. As a group, analysts anticipate that Vaxcyte, Inc. will post -7.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Zacks Research lowered shares of Vaxcyte from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Vaxcyte from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $86.00.

Institutional Investors Weigh In On Vaxcyte

Several large investors have recently added to or reduced their stakes in the company. NEXTBio Capital Management LP bought a new stake in shares of Vaxcyte in the fourth quarter valued at approximately $4,406,000. Norges Bank purchased a new position in shares of Vaxcyte during the fourth quarter worth about $56,703,000. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Vaxcyte by 105.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 70,124 shares of the company’s stock worth $3,236,000 after buying an additional 35,974 shares during the last quarter. Eventide Asset Management LLC raised its holdings in shares of Vaxcyte by 141.8% during the 4th quarter. Eventide Asset Management LLC now owns 917,115 shares of the company’s stock valued at $42,313,000 after buying an additional 537,785 shares in the last quarter. Finally, Candriam S.C.A. bought a new stake in Vaxcyte in the first quarter worth $18,306,000. Hedge funds and other 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.