Vaxcyte (NASDAQ:PCVX) Releases Earnings Results, Beats Estimates By $0.12 EPS

Key Points

• Vaxcyte reported quarterly EPS of -$1.99, beating the consensus estimate of -$2.11 by $0.12.
• Shares rose 8% to $65.68 during Wednesday trading.
• Analysts hold a consensus Moderate Buy rating with an average price target of $110.50; company insiders sold 50,692 shares worth about $4.03 million over the past three months.

Vaxcyte (NASDAQ:PCVX - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($1.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.11) by $0.12, FiscalAI reports.

Vaxcyte Stock Up 8.0%

Shares of NASDAQ PCVX traded up $4.87 during midday trading on Wednesday, reaching $65.68. The company had a trading volume of 2,257,729 shares, compared to its average volume of 1,640,697. Vaxcyte has a one year low of $39.87 and a one year high of $90.75. The firm's fifty day moving average price is $61.55 and its 200-day moving average price is $57.07. The stock has a market cap of $9.77 billion, a PE ratio of -8.61 and a beta of 1.31.

Wall Street Analysts Forecast Growth

PCVX has been the subject of a number of analyst reports. Zacks Research raised Vaxcyte from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Needham & Company LLC boosted their price objective on Vaxcyte from $110.00 to $122.00 and gave the company a "buy" rating in a research note on Monday, October 5th. Wall Street Zen raised Vaxcyte from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Guggenheim increased their price objective on Vaxcyte from $116.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, October 5th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $120.00 target price on shares of Vaxcyte in a research note on Monday, October 12th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $110.50.

Insider Buying and Selling at Vaxcyte

In other news, EVP Jim Wassil sold 2,250 shares of the firm's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $60.90, for a total value of $137,025.00. Following the completion of the sale, the executive vice president directly owned 145,435 shares of the company's stock, valued at approximately $8,856,991.50. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 3,000 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $60.92, for a total value of $182,760.00. Following the transaction, the chief accounting officer owned 27,860 shares in the company, valued at $1,697,231.20. This trade represents a 9.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 50,692 shares of company stock valued at $4,032,875 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

About Vaxcyte

Vaxcyte, Inc NASDAQ: PCVX is a clinical-stage biotechnology company focused on developing vaccines designed to protect against serious bacterial diseases. The company is headquartered in San Carlos, California, and uses its proprietary cell-free protein synthesis and conjugation technologies to develop vaccine candidates intended to provide broad and durable immune protection.

Vaxcyte's lead programs target pneumococcal disease, an infection caused by Streptococcus pneumoniae.

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