Vaxcyte, Inc. (NASDAQ:PCVX) Receives $101.17 Average Price Target from Analysts

Vaxcyte, Inc. (NASDAQ:PCVX) has been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $101.1667.

PCVX has been the subject of several research reports. Leerink Partners set a $77.00 price objective on Vaxcyte and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Needham & Company LLC raised their price objective 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a report on Friday, January 9th. Finally, BTIG Research restated a “buy” rating and set a $85.00 price target on shares of Vaxcyte in a report on Monday, November 10th.

Vaxcyte Stock Performance

PCVX stock opened at $46.59 on Friday. The firm has a market cap of $6.10 billion, a PE ratio of -9.63 and a beta of 1.34. Vaxcyte has a one year low of $27.66 and a one year high of $93.77. The firm’s fifty day moving average is $46.53 and its 200 day moving average is $39.68.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.29). During the same period in the prior year, the firm posted ($0.83) earnings per share. Research analysts predict that Vaxcyte will post -4.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Vaxcyte

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PCVX. Allworth Financial LP raised its position in Vaxcyte by 148.9% in the 3rd quarter. Allworth Financial LP now owns 1,222 shares of the company’s stock valued at $44,000 after purchasing an additional 731 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Vaxcyte in the 3rd quarter valued at about $45,000. CIBC Private Wealth Group LLC increased its holdings in shares of Vaxcyte by 22,500.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company’s stock valued at $49,000 after acquiring an additional 1,350 shares during the last quarter. CWM LLC raised its position in shares of Vaxcyte by 197.3% during the 2nd quarter. CWM LLC now owns 1,680 shares of the company’s stock worth $55,000 after acquiring an additional 1,115 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Vaxcyte during the third quarter worth approximately $72,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

About Vaxcyte

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.