Vaxcyte (NASDAQ:PCVX) Announces Quarterly Earnings Results, Beats Estimates By $0.28 EPS

Vaxcyte (NASDAQ:PCVX) posted its quarterly earnings data on Wednesday. The company reported ($0.85) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.28, Briefing.com reports.

Vaxcyte Price Performance

Shares of NASDAQ:PCVX traded down $1.13 on Thursday, hitting $65.66. The company’s stock had a trading volume of 177,859 shares, compared to its average volume of 805,355. Vaxcyte has a 1 year low of $44.20 and a 1 year high of $82.04. The company has a market capitalization of $7.12 billion, a PE ratio of -15.80 and a beta of 0.94. The company has a 50-day simple moving average of $66.14 and a 200 day simple moving average of $62.45.

Insider Activity at Vaxcyte

In related news, CEO Grant Pickering sold 2,616 shares of Vaxcyte stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.70, for a total transaction of $192,799.20. Following the sale, the chief executive officer now directly owns 148,670 shares in the company, valued at $10,956,979. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Elvia Cowan sold 11,678 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $74.08, for a total transaction of $865,106.24. Following the sale, the senior vice president now owns 12,480 shares of the company’s stock, valued at $924,518.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Grant Pickering sold 2,616 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $73.70, for a total transaction of $192,799.20. Following the completion of the sale, the chief executive officer now directly owns 148,670 shares in the company, valued at approximately $10,956,979. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,294 shares of company stock valued at $4,254,105. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $95.00 price objective on shares of Vaxcyte in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a research note on Thursday. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $78.50.

Vaxcyte Company Profile

Vaxcyte, Inc, a clinical-stage biotechnology vaccine company, develops novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease. The company also develops VAX-31 to protect against emerging strains and to help address antibiotic resistance; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting keystone pathogen responsible for periodontitis; and VAX-GI to prevent Shigella, a bacterial illness.