Key Points
- Vaxcyte CFO Andrew Guggenhime sold 10,000 shares on June 18 at an average price of $53.00, totaling about $530,000. The sale reduced his direct holdings by 8.74% and was made under a pre-arranged Rule 10b5-1 plan.
- The company recently reported a wider-than-expected quarterly loss, posting EPS of -$2.30 versus analyst estimates of -$1.74. Analysts currently expect Vaxcyte to report full-year EPS of -7.56.
- Wall Street remains mostly constructive on the stock, with six Buy ratings and an average consensus target of $86.00, even as some firms have issued Sell or Strong Sell ratings. Institutional investors still own the vast majority of shares, at 96.78%.
Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) CFO Andrew Guggenhime sold 10,000 shares of the business's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $53.00, for a total transaction of $530,000.00. Following the sale, the chief financial officer directly owned 104,395 shares in the company, valued at $5,532,935. The trade was a 8.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Vaxcyte Price Performance
NASDAQ:PCVX opened at $51.44 on Friday. The company has a market cap of $7.43 billion, a P/E ratio of -7.48 and a beta of 1.24. The stock's fifty day moving average price is $53.56 and its two-hundred day moving average price is $52.70. Vaxcyte, Inc. has a 1 year low of $29.08 and a 1 year high of $65.00.
Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing analysts' consensus estimates of ($1.74) by ($0.56). During the same period in the previous year, the company earned ($1.04) earnings per share. On average, analysts expect that Vaxcyte, Inc. will post -7.56 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Vaxcyte
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of Vaxcyte by 115.2% in the 1st quarter. Royal Bank of Canada now owns 29,471 shares of the company's stock valued at $1,113,000 after acquiring an additional 15,774 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Vaxcyte in the first quarter valued at approximately $219,000. Caxton Associates LLP purchased a new stake in Vaxcyte in the first quarter valued at approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Vaxcyte by 8.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 513,998 shares of the company's stock valued at $19,409,000 after purchasing an additional 41,034 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Vaxcyte by 13.8% during the second quarter. Cetera Investment Advisers now owns 7,681 shares of the company's stock valued at $250,000 after purchasing an additional 932 shares during the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on PCVX. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vaxcyte in a research report on Wednesday, April 8th. Jefferies Financial Group restated a "buy" rating on shares of Vaxcyte in a research report on Tuesday, March 10th. BTIG Research boosted their price objective on shares of Vaxcyte from $85.00 to $89.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Finally, Wall Street Zen lowered shares of Vaxcyte from a "sell" rating to a "strong sell" rating in a report on Tuesday, April 28th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $86.00.
View Our Latest Analysis on Vaxcyte
About Vaxcyte
(
Get Free Report)
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.
Further Reading
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