Vaxcyte (NASDAQ:PCVX) Issues Earnings Results

Vaxcyte (NASDAQ:PCVX) announced 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 Stock Performance

Vaxcyte stock traded down $1.26 during midday trading on Thursday, hitting $65.53. 241,053 shares of the company’s stock were exchanged, compared to its average volume of 806,012. Vaxcyte has a 12-month low of $44.20 and a 12-month high of $82.04. The firm’s 50 day simple moving average is $66.14 and its 200 day simple moving average is $62.45. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of -15.80 and a beta of 0.94.

Insider Transactions at Vaxcyte

In other news, CFO Andrew Guggenhime sold 8,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $69.02, for a total transaction of $552,160.00. Following the completion of the transaction, the chief financial officer now owns 95,679 shares in the company, valued at $6,603,764.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Grant Pickering sold 15,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $61.92, for a total value of $928,800.00. Following the sale, the chief executive officer now owns 477,847 shares in the company, valued at approximately $29,588,286.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $69.02, for a total value of $552,160.00. Following the sale, the chief financial officer now directly owns 95,679 shares in the company, valued at $6,603,764.58. The disclosure for this sale can be found here. Insiders sold a total of 63,294 shares of company stock worth $4,254,105 over the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.