Vaxcyte (NASDAQ:PCVX) Shares Gap Down to $45.94

Vaxcyte, Inc. (NASDAQ:PCVXGet Rating)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $45.94, but opened at $44.81. Vaxcyte shares last traded at $41.89, with a volume of 3,399 shares.

Analyst Upgrades and Downgrades

PCVX has been the topic of several recent analyst reports. BTIG Research initiated coverage on shares of Vaxcyte in a research note on Thursday, November 17th. They set a “buy” rating and a $69.00 price objective on the stock. Cantor Fitzgerald upped their price target on shares of Vaxcyte from $55.00 to $70.00 in a research note on Tuesday, November 8th. SVB Leerink reiterated an “outperform” rating and issued a $60.00 price target on shares of Vaxcyte in a research note on Friday, December 16th. Needham & Company LLC upped their price target on shares of Vaxcyte from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, January 3rd. Finally, Guggenheim assumed coverage on shares of Vaxcyte in a research note on Thursday, December 15th. They issued a “buy” rating and a $66.00 price target on the stock.

Vaxcyte Trading Up 3.0 %

The stock’s 50-day simple moving average is $44.96 and its 200-day simple moving average is $32.85. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -14.89 and a beta of 1.04.

Vaxcyte (NASDAQ:PCVXGet Rating) last announced its earnings results on Monday, November 7th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.13). On average, equities research analysts forecast that Vaxcyte, Inc. will post -3.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Jim Wassil sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $25.72, for a total transaction of $72,016.00. Following the completion of the sale, the chief operating officer now owns 42,344 shares of the company’s stock, valued at approximately $1,089,087.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Jeff Fairman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the completion of the sale, the vice president now owns 286,227 shares of the company’s stock, valued at approximately $11,449,080. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jim Wassil sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $25.72, for a total transaction of $72,016.00. Following the sale, the chief operating officer now directly owns 42,344 shares of the company’s stock, valued at approximately $1,089,087.68. The disclosure for this sale can be found here. Insiders have sold a total of 24,800 shares of company stock worth $960,091 in the last quarter. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Vaxcyte

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCVX. Swiss National Bank lifted its stake in Vaxcyte by 8.9% in the 1st quarter. Swiss National Bank now owns 50,000 shares of the company’s stock valued at $1,208,000 after purchasing an additional 4,100 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Vaxcyte by 31.3% in the 1st quarter. JPMorgan Chase & Co. now owns 26,792 shares of the company’s stock valued at $647,000 after purchasing an additional 6,390 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Vaxcyte by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 152,364 shares of the company’s stock valued at $3,680,000 after purchasing an additional 6,891 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Vaxcyte by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 23,689 shares of the company’s stock valued at $572,000 after purchasing an additional 8,743 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Vaxcyte by 8.2% in the 1st quarter. Rhumbline Advisers now owns 50,789 shares of the company’s stock valued at $1,227,000 after purchasing an additional 3,852 shares during the last quarter. Institutional investors own 71.50% of the company’s stock.

Vaxcyte Company Profile

(Get Rating)

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 that is in Phase 1/2 clinical trials to treat invasive pneumococcal disease and pneumonia.

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