Vaxcyte (NASDAQ:PCVX) Issues Earnings Results

Vaxcyte (NASDAQ:PCVX) announced its quarterly earnings data on Tuesday. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.27, Briefing.com reports. During the same period last year, the firm earned ($0.91) earnings per share.

Vaxcyte Trading Down 2.0 %

Shares of NASDAQ PCVX traded down $2.11 during mid-day trading on Wednesday, hitting $105.45. 1,879,888 shares of the stock traded hands, compared to its average volume of 833,928. Vaxcyte has a twelve month low of $46.16 and a twelve month high of $121.06. The firm has a 50 day simple moving average of $109.48 and a two-hundred day simple moving average of $86.36.

Insider Activity

In other news, CFO Andrew Guggenhime sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $115.94, for a total value of $927,520.00. Following the completion of the transaction, the chief financial officer now owns 90,383 shares of the company’s stock, valued at $10,479,005.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Grant Pickering sold 15,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $106.82, for a total transaction of $1,602,300.00. Following the completion of the transaction, the chief executive officer now directly owns 435,219 shares in the company, valued at $46,490,093.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Guggenhime sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total value of $927,520.00. Following the completion of the sale, the chief financial officer now owns 90,383 shares in the company, valued at $10,479,005.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,098 shares of company stock valued at $12,394,473. 3.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PCVX has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Vaxcyte in a report on Wednesday. Jefferies Financial Group lifted their price objective on shares of Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Mizuho upped their target price on Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Leerink Partners lifted their price target on Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $147.50.

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.