Vaxcyte Sees Unusually High Options Volume (NASDAQ:PCVX)

Vaxcyte, Inc. (NASDAQ:PCVX) was the recipient of some unusual options trading on Monday. Stock traders bought 2,615 call options on the company. This represents an increase of approximately 17% compared to the typical daily volume of 2,238 call options.

Insider Buying and Selling

In other Vaxcyte news, CFO Andrew Guggenhime sold 10,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $53.89, for a total transaction of $538,900.00. Following the completion of the sale, the chief financial officer owned 105,176 shares of the company’s stock, valued at approximately $5,667,934.64. This represents a 8.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Grant Pickering sold 2,000 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $55.65, for a total transaction of $111,300.00. Following the sale, the chief executive officer directly owned 133,215 shares of the company’s stock, valued at $7,413,414.75. This represents a 1.48% 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. In the last ninety days, insiders sold 55,890 shares of company stock worth $3,111,189. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Vaxcyte

Large investors have recently bought and sold shares of the stock. First Light Asset Management LLC grew its position in Vaxcyte by 143.4% in the 2nd quarter. First Light Asset Management LLC now owns 345,157 shares of the company’s stock valued at $20,064,000 after purchasing an additional 203,373 shares during the period. Norges Bank acquired a new position in Vaxcyte during the fourth quarter worth $56,703,000. NEXTBio Capital Management LP acquired a new position in Vaxcyte during the fourth quarter worth $4,406,000. Bank of America Corp DE lifted its stake 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 valued at $70,711,000 after buying an additional 515,209 shares in the last quarter. Finally, Eventide Asset Management LLC lifted its stake in shares of Vaxcyte by 141.8% in the fourth 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. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Key Vaxcyte News

Here are the key news stories impacting Vaxcyte this week:

• Positive Sentiment: VAX-31 met all primary endpoints. In the pivotal OPUS-1 Phase 3 trial, VAX-31 generated immune responses that were comparable to Prevnar 20 and/or Capvaxive across the studied age groups. The 31-valent pneumococcal vaccine is designed to provide broader coverage against invasive pneumococcal disease and pneumonia. Vaxcyte Reports Positive Topline Data from OPUS-1
• Positive Sentiment: Commercial opportunity improved. Analysts said the results could position VAX-31 to compete with Pfizer’s Prevnar 20 and Merck’s Capvaxive in an adult pneumococcal vaccine market estimated at roughly $3 billion to $6 billion or more. Vaxcyte Stock Spikes as Lead Vaccine Candidate Takes Aim at Pfizer and Merck
• Positive Sentiment: Analyst support strengthened. BTIG reaffirmed its Buy rating with an $89 price target, while Needham raised its target to $122 from $110 and maintained a Buy rating, signaling continued confidence in Vaxcyte’s clinical and commercial outlook.
• Neutral Sentiment: Unusually heavy call-option activity accompanied the rally, suggesting increased speculative interest, but options activity does not by itself change Vaxcyte’s fundamentals.
• Negative Sentiment: Vaxcyte launched up to $1 billion of financing. The company began separate offerings of $500 million of common stock and pre-funded warrants and $500 million of convertible senior notes due 2032, with potential $75 million over-allotment options for each. The equity sale could dilute existing shareholders, while the convertible debt adds financing obligations, explaining the later pullback. Vaxcyte Announces Proposed Public Offerings

Wall Street Analysts Forecast Growth

PCVX has been the subject of several recent analyst reports. Bank of America decreased their price objective on shares of Vaxcyte from $133.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, September 28th. BTIG Research restated a “buy” rating and issued a $89.00 target price on shares of Vaxcyte in a report on Monday. Wall Street Zen raised shares of Vaxcyte from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Guggenheim increased their price target on Vaxcyte from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a report on Friday. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.60.

Vaxcyte Stock Performance

Shares of PCVX opened at $73.82 on Tuesday. The firm has a market cap of $10.98 billion, a PE ratio of -9.67 and a beta of 1.23. Vaxcyte has a 52-week low of $39.87 and a 52-week high of $90.75. The business’s 50 day moving average price is $59.04 and its two-hundred day moving average price is $56.31.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.97) EPS for the quarter, topping the consensus estimate of ($2.06) by $0.09. During the same quarter last year, the company posted ($1.22) EPS. Research analysts predict that Vaxcyte will post -7.6 EPS for the current fiscal year.

Vaxcyte Company Profile

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing vaccines to help prevent serious bacterial infections. The company uses its cell-free protein synthesis and advanced conjugation technologies to design vaccines intended to provide broad and durable protection while addressing limitations of existing vaccine products.

Vaxcyte’s lead programs are pneumococcal conjugate vaccine candidates, including VAX-24 and VAX-31, which are designed to target a broad range of pneumococcal serotypes.