Vaxcyte (NASDAQ:PCVX) Given New $90.00 Price Target at Needham & Company LLC

Vaxcyte (NASDAQ:PCVX) had its target price decreased by Needham & Company LLC from $140.00 to $90.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 138.35% from the company’s previous close.

Several other equities analysts have also recently weighed in on PCVX. The Goldman Sachs Group started coverage on Vaxcyte in a research note on Friday, December 20th. They set a “buy” rating and a $135.00 target price on the stock. Guggenheim restated a “buy” rating and set a $160.00 price target on shares of Vaxcyte in a report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $141.25.

Vaxcyte Stock Performance

NASDAQ PCVX opened at $37.76 on Tuesday. The firm’s 50 day moving average price is $79.12 and its two-hundred day moving average price is $91.83. Vaxcyte has a twelve month low of $30.12 and a twelve month high of $121.06. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of -8.21 and a beta of 1.02.

Vaxcyte (NASDAQ:PCVX) last issued its earnings results on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, topping the consensus estimate of ($1.16) by $0.14. On average, research analysts forecast that Vaxcyte will post -4.21 EPS for the current fiscal year.

Insider Activity at Vaxcyte

In other news, Director Teri Loxam sold 6,250 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total transaction of $531,937.50. Following the transaction, the director now owns 7,175 shares in the company, valued at approximately $610,664.25. This trade represents a 46.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Guggenhime sold 8,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $86.51, for a total transaction of $692,080.00. Following the completion of the sale, the chief financial officer now owns 109,491 shares of the company’s stock, valued at $9,472,066.41. This represents a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,250 shares of company stock valued at $3,840,018. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vaxcyte

Several institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new position in shares of Vaxcyte during the 3rd quarter valued at about $3,104,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Vaxcyte by 4.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,311 shares of the company’s stock worth $2,435,000 after purchasing an additional 826 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Vaxcyte by 38.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 408,274 shares of the company’s stock valued at $46,653,000 after purchasing an additional 112,512 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Vaxcyte in the third quarter valued at approximately $489,000. Finally, Bamco Inc. NY bought a new position in shares of Vaxcyte in the third quarter valued at approximately $3,542,000. 96.78% of the stock is currently owned by institutional investors.

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.