Key Points
- Vaxcyte insider Harpreet Dhaliwal sold 17,000 shares for about $1.15 million at an average price of $67.83 under a pre-arranged Rule 10b5-1 plan. The sale reduced Dhaliwal’s direct stake by nearly 20%, to 68,085 shares.
- Vaxcyte shares fell 2% on Friday to $63.37. The company reported a quarterly loss of $1.99 per share, beating analyst expectations for a $2.11 loss.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $110.50. Vaxcyte is a clinical-stage vaccine developer and has no approved commercial vaccines.
Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) insider Harpreet Dhaliwal sold 17,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $67.83, for a total transaction of $1,153,110.00. Following the sale, the insider directly owned 68,085 shares of the company's stock, valued at $4,618,205.55. The trade was a 19.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Vaxcyte Stock Down 2.0%
PCVX traded down $1.32 during trading on Friday, hitting $63.37. The stock had a trading volume of 623,298 shares, compared to its average volume of 2,025,302. The company has a market capitalization of $10.03 billion, a PE ratio of -7.86 and a beta of 1.31. Vaxcyte, Inc. has a twelve month low of $42.40 and a twelve month high of $90.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.56 and a current ratio of 4.56. The stock has a 50 day simple moving average of $62.24 and a two-hundred day simple moving average of $57.65.
Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($1.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.11) by $0.12. During the same quarter in the previous year, the business earned ($1.56) earnings per share. On average, research analysts predict that Vaxcyte, Inc. will post -7.51 earnings per share for the current year.
Wall Street Analyst Weigh In
PCVX has been the topic of a number of recent research reports. Zacks Research upgraded Vaxcyte from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Bank of America reduced their price target 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 price objective on shares of Vaxcyte in a report on Monday, October 5th. Needham & Company LLC boosted their target price on Vaxcyte from $110.00 to $122.00 and gave the stock a "buy" rating in a report on Monday, October 5th. Finally, Guggenheim boosted their price target on shares of Vaxcyte from $116.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, October 5th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $110.50.
Get Our Latest Stock Report on Vaxcyte
Institutional Trading of Vaxcyte
A number of institutional investors have recently bought and sold shares of the business. Jupiter Topco LLC purchased a new stake in Vaxcyte in the 2nd quarter valued at $1,044,355,000. Janus Henderson Group PLC grew its position in Vaxcyte by 23.8% during the 1st quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company's stock worth $960,231,000 after purchasing an additional 3,188,687 shares during the last quarter. BlackRock Inc. purchased a new position in Vaxcyte during the 2nd quarter worth $701,520,000. Wellington Management Group LLP increased its stake in Vaxcyte by 24.7% in the second quarter. Wellington Management Group LLP now owns 7,001,565 shares of the company's stock valued at $407,001,000 after purchasing an additional 1,386,968 shares during the period. Finally, Jennison Associates LLC increased its stake in Vaxcyte by 150.6% in the first quarter. Jennison Associates LLC now owns 1,698,011 shares of the company's stock valued at $98,671,000 after purchasing an additional 1,020,458 shares during the period. 96.78% of the stock is owned by hedge funds and other institutional investors.
Vaxcyte Company Profile
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Vaxcyte, Inc. is a clinical-stage biotechnology company developing vaccines to prevent bacterial infectious diseases. Its research focuses on conjugate vaccines, which link bacterial sugars to carrier proteins to help generate an immune response. The company's pipeline includes VAX-24 and VAX-31, investigational pneumococcal vaccines designed to protect against a broad range of strains, as well as VAX-A1, a candidate targeting Group A Streptococcus. Vaxcyte has no approved commercial vaccines; its programs remain under development.
Further Reading
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