Vaxcyte (NASDAQ:PCVX) Insider Sells $1,153,110.00 in Stock

Key Points

• Vaxcyte insider Harpreet Dhaliwal sold 17,000 shares for $1.15 million under a pre-arranged Rule 10b5-1 plan, reducing their direct holdings by about 20% to 68,085 shares.
• Shares fell 2% on Friday to $63.37. Vaxcyte reported a quarterly loss of $1.99 per share, narrower than analysts’ $2.11-per-share loss estimate.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $110.50; institutional investors own 96.78% of the stock.

Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) insider Harpreet Dhaliwal sold 17,000 shares of the business's stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $67.83, for a total value of $1,153,110.00. Following the completion of the sale, the insider directly owned 68,085 shares of the company's stock, valued at $4,618,205.55. The trade was a 19.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vaxcyte Stock Down 2.0%

PCVX stock traded down $1.32 during trading on Friday, reaching $63.37. 623,288 shares of the stock were exchanged, compared to its average volume of 1,631,687. The firm's 50 day moving average is $62.19 and its 200 day moving average is $57.60. The firm has a market cap of $10.03 billion, a P/E ratio of -7.86 and a beta of 1.31. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.04. Vaxcyte, Inc. has a twelve month low of $42.40 and a twelve month high of $90.75.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($1.99) EPS for the quarter, beating analysts' consensus estimates of ($2.11) by $0.12. During the same period last year, the firm posted ($1.56) earnings per share. As a group, research analysts forecast that Vaxcyte, Inc. will post -7.51 EPS for the current year.

Analyst Ratings Changes

PCVX has been the subject of several research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Vaxcyte in a research report on Friday, October 2nd. Cantor Fitzgerald restated an "overweight" rating and set a $120.00 price target on shares of Vaxcyte in a research note on Monday, October 12th. Zacks Research upgraded shares of Vaxcyte from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. BTIG Research reaffirmed a "buy" rating and issued a $89.00 price objective on shares of Vaxcyte in a research note on Monday, October 5th. Finally, Needham & Company LLC raised their price objective on shares of Vaxcyte from $110.00 to $122.00 and gave the company a "buy" rating in a research note on Monday, October 5th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $110.50.

Institutional Trading of Vaxcyte

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jupiter Topco LLC bought a new position in shares of Vaxcyte in the second quarter valued at approximately $1,044,355,000. Janus Henderson Group PLC grew its holdings in Vaxcyte by 23.8% during the first quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company's stock worth $960,231,000 after buying an additional 3,188,687 shares in the last quarter. BlackRock Inc. bought a new stake in Vaxcyte during the second quarter worth $701,520,000. Wellington Management Group LLP grew its holdings in Vaxcyte by 24.7% during the second quarter. Wellington Management Group LLP now owns 7,001,565 shares of the company's stock worth $407,001,000 after buying an additional 1,386,968 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Vaxcyte by 150.6% in the 1st quarter. Jennison Associates LLC now owns 1,698,011 shares of the company's stock valued at $98,671,000 after buying an additional 1,020,458 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

About Vaxcyte

Vaxcyte, Inc. is a clinical-stage biotechnology company developing vaccines to prevent bacterial infectious diseases. Its research focuses on conjugate vaccines, which link bacterial sugars to carrier proteins to help generate an immune response. The company's pipeline includes VAX-24 and VAX-31, investigational pneumococcal vaccines designed to protect against a broad range of strains, as well as VAX-A1, a candidate targeting Group A Streptococcus. Vaxcyte has no approved commercial vaccines; its programs remain under development.

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