Vaxcyte’s (PCVX) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Vaxcyte (NASDAQ:PCVX) in a research note published on Monday morning, Marketbeat reports. The firm currently has a $120.00 target price on the stock.

A number of other research analysts have also recently issued reports on PCVX. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research note on Friday, October 2nd. Bank of America lowered 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 set a $89.00 target price on shares of Vaxcyte in a research note on Monday, October 5th. Needham & Company LLC raised their target price on Vaxcyte from $110.00 to $122.00 and gave the company a “buy” rating in a report on Monday, October 5th. Finally, Zacks Research raised Vaxcyte from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.50.

Vaxcyte Trading Down 1.0%

Shares of NASDAQ:PCVX opened at $70.65 on Monday. The firm has a 50 day moving average of $60.43 and a 200-day moving average of $56.78. The stock has a market capitalization of $10.51 billion, a PE ratio of -9.26 and a beta of 1.23. Vaxcyte has a 12 month low of $39.87 and a 12 month high of $90.75.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.06) by $0.09. During the same quarter in the prior year, the company posted ($1.22) EPS. On average, research analysts predict that Vaxcyte will post -7.60 EPS for the current fiscal year.

Insider Transactions at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 2,000 shares of the business’s stock in a transaction 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 owned 133,215 shares of the company’s stock, valued at approximately $7,413,414.75. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 19,000 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $86.74, for a total transaction of $1,648,060.00. Following the transaction, the chief accounting officer owned 27,860 shares of the company’s stock, valued at $2,416,576.40. This trade represents a 40.55% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 92,890 shares of company stock valued at $6,320,569. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Vaxcyte

A number of hedge funds and other institutional investors have recently bought and sold shares of PCVX. Hsbc Holdings PLC increased its stake in shares of Vaxcyte by 4.0% in the second quarter. Hsbc Holdings PLC now owns 4,151 shares of the company’s stock valued at $241,000 after buying an additional 159 shares during the period. Meeder Advisory Services Inc. raised its holdings in Vaxcyte by 2.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,335 shares of the company’s stock valued at $484,000 after buying an additional 231 shares during the last quarter. IFP Advisors Inc raised its holdings in Vaxcyte by 72.8% in the 2nd quarter. IFP Advisors Inc now owns 560 shares of the company’s stock valued at $33,000 after buying an additional 236 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Vaxcyte by 27.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,344 shares of the company’s stock valued at $78,000 after buying an additional 291 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Vaxcyte by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 5,275 shares of the company’s stock worth $307,000 after buying an additional 343 shares during the period. 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 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.