Vaxcyte (NASDAQ:PCVX) Stock Rating Reaffirmed by Needham & Company LLC

Vaxcyte (NASDAQ:PCVX)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $95.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 46.54% from the company’s current price.

Several other equities analysts also recently weighed in on PCVX. Bank of America raised their price target on shares of Vaxcyte from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vaxcyte in a report on Friday, January 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vaxcyte has an average rating of “Buy” and an average price target of $78.50.

Vaxcyte Price Performance

Shares of Vaxcyte stock opened at $64.83 on Wednesday. The stock has a market capitalization of $7.03 billion, a P/E ratio of -15.70 and a beta of 0.89. The business has a 50 day simple moving average of $70.91 and a two-hundred day simple moving average of $60.47. Vaxcyte has a 12 month low of $34.11 and a 12 month high of $82.04.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.93). During the same period in the previous year, the firm posted ($0.73) earnings per share. As a group, research analysts anticipate that Vaxcyte will post -4.18 EPS for the current fiscal year.

Insider Transactions at Vaxcyte

In related news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $66.93, for a total value of $1,003,950.00. Following the completion of the sale, the chief executive officer now owns 477,847 shares of the company’s stock, valued at $31,982,299.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Grant Pickering sold 15,000 shares of Vaxcyte stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $66.93, for a total transaction of $1,003,950.00. Following the sale, the chief executive officer now owns 477,847 shares of the company’s stock, valued at approximately $31,982,299.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $60.73, for a total value of $485,840.00. Following the completion of the transaction, the chief financial officer now owns 79,474 shares of the company’s stock, valued at $4,826,456.02. The disclosure for this sale can be found here. Insiders have sold a total of 109,577 shares of company stock worth $7,426,315 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Vaxcyte

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its position in Vaxcyte by 155.3% in the fourth quarter. Parallel Advisors LLC now owns 411 shares of the company’s stock valued at $26,000 after buying an additional 250 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Vaxcyte during the first quarter valued at about $30,000. Banque Cantonale Vaudoise raised its stake in shares of Vaxcyte by 96.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 1,184 shares of the company’s stock valued at $81,000 after acquiring an additional 582 shares during the period. KBC Group NV acquired a new position in shares of Vaxcyte in the 4th quarter worth approximately $97,000. Finally, Avior Wealth Management LLC purchased a new position in shares of Vaxcyte during the 3rd quarter worth approximately $178,000. 96.78% of the stock is owned by institutional investors and hedge funds.

About Vaxcyte

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.