Brokerages Set Vaxcyte, Inc. (NASDAQ:PCVX) PT at $93.83

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $93.8333.

Several brokerages have issued reports on PCVX. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a report on Friday, January 9th. Leerink Partners set a $77.00 target price on shares of Vaxcyte and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Needham & Company LLC increased their price target on shares of Vaxcyte from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Guggenheim restated a “buy” rating and set a $116.00 price target on shares of Vaxcyte in a research note on Monday, February 2nd. Finally, BTIG Research reiterated a “buy” rating and issued a $85.00 price objective on shares of Vaxcyte in a research note on Monday, November 10th.

Insider Transactions at Vaxcyte

In other news, SVP Elvia Cowan sold 11,623 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $47.92, for a total transaction of $556,974.16. Following the sale, the senior vice president owned 14,534 shares in the company, valued at approximately $696,469.28. This represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Harpreet S. Dhaliwal sold 9,743 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $46.69, for a total transaction of $454,900.67. Following the transaction, the insider owned 23,928 shares in the company, valued at $1,117,198.32. The trade was a 28.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Vaxcyte

Several institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position 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 acquiring an additional 364 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Vaxcyte by 1,463.4% during the 4th 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 raised its stake in shares of Vaxcyte by 33.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $34,000 after purchasing an additional 184 shares during the period. Allworth Financial LP boosted its position 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 buying an additional 731 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Vaxcyte during the third quarter worth about $45,000. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Vaxcyte Trading Down 1.5%

Shares of NASDAQ:PCVX opened at $54.10 on Tuesday. The firm has a market capitalization of $7.08 billion, a PE ratio of -11.18 and a beta of 1.33. Vaxcyte has a 1-year low of $27.66 and a 1-year high of $85.57. The business’s 50 day moving average is $49.09 and its 200-day moving average is $42.37.

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.