Vaxcyte (NASDAQ:PCVX) Receives "Overweight" Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Vaxcyte (NASDAQ:PCVX - Free Report) in a research report report published on Thursday, Benzinga reports.

Separately, Needham & Company LLC reiterated a buy rating and issued a $95.00 target price on shares of Vaxcyte in a report on Thursday. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vaxcyte presently has a consensus rating of Buy and an average target price of $78.50.

Vaxcyte Trading Down 1.8 %

Vaxcyte stock traded down $1.22 during trading on Thursday, hitting $65.57. The company had a trading volume of 919,643 shares, compared to its average volume of 813,824. Vaxcyte has a 1-year low of $44.20 and a 1-year high of $82.04. The company'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 $7.11 billion, a price-to-earnings ratio of -15.80 and a beta of 0.94.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($1.13) by $0.28. As a group, analysts forecast that Vaxcyte will post -4.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Vaxcyte

In other news, SVP Elvia Cowan sold 11,678 shares of Vaxcyte stock in a transaction on Friday, March 1st. The shares were sold at an average price of $74.08, for a total transaction of $865,106.24. Following the completion of the sale, the senior vice president now directly owns 12,480 shares of the company's stock, valued at approximately $924,518.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $61.27, for a total transaction of $490,160.00. Following the completion of the sale, the chief financial officer now directly owns 95,679 shares of the company's stock, valued at approximately $5,862,252.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Elvia Cowan sold 11,678 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $74.08, for a total transaction of $865,106.24. Following the completion of the sale, the senior vice president now directly owns 12,480 shares of the company's stock, valued at $924,518.40. The disclosure for this sale can be found here. Insiders sold 63,294 shares of company stock valued at $4,254,105 in the last 90 days. Company insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Vaxcyte

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in Vaxcyte by 1,005.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,603 shares of the company's stock valued at $1,419,000 after acquiring an additional 20,558 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in Vaxcyte during the 4th quarter valued at approximately $3,035,000. Wellington Management Group LLP lifted its position in Vaxcyte by 3.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,598,712 shares of the company's stock worth $234,442,000 after acquiring an additional 167,501 shares during the period. Jennison Associates LLC lifted its position in Vaxcyte by 20.6% during the 3rd quarter. Jennison Associates LLC now owns 1,754,691 shares of the company's stock worth $89,454,000 after acquiring an additional 300,189 shares during the period. Finally, UBS Group AG grew its stake in shares of Vaxcyte by 62.2% in the 3rd quarter. UBS Group AG now owns 74,305 shares of the company's stock valued at $3,788,000 after purchasing an additional 28,483 shares during the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

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.