Vaxcyte, Inc. (NASDAQ:PCVX) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts have a consensus rating of "Moderate Buy" on Vaxcyte from nine covering firms (7 buys, 1 hold, 1 sell), with an average 12‑month price target of $86.00.
• Company insiders have been selling recently — CAO Elvia Cowan and COO Jim Wassil sold shares in March, totaling 11,787 shares (~$687,031) over the last 90 days, and insiders now own 3.10% of the stock.
• Vaxcyte is a clinical‑stage vaccine developer (lead candidate VAX‑24); it has a market cap of $8.36B and last quarter reported an EPS miss of ($1.80) versus ($1.46) expected, with analysts forecasting about (‑4.21) EPS for the year.

Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $86.00.

PCVX has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of Vaxcyte in a research note on Tuesday, March 10th. Needham & Company LLC boosted their price target on Vaxcyte from $90.00 to $110.00 and gave the company a "buy" rating in a report on Wednesday, January 7th. BTIG Research upped their price objective on Vaxcyte from $85.00 to $89.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vaxcyte in a report on Friday, January 9th. Finally, Guggenheim reissued a "buy" rating and issued a $116.00 target price on shares of Vaxcyte in a research report on Monday, February 2nd.

Insider Activity at Vaxcyte

In related news, CAO Elvia Cowan sold 2,500 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.59, for a total transaction of $146,475.00. Following the completion of the transaction, the chief accounting officer owned 30,867 shares in the company, valued at approximately $1,808,497.53. This represents a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jim Wassil sold 7,395 shares of the firm's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $58.88, for a total transaction of $435,417.60. Following the completion of the transaction, the chief operating officer directly owned 166,818 shares of the company's stock, valued at approximately $9,822,243.84. This trade represents a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,787 shares of company stock valued at $687,031 over the last ninety days. Company insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Vaxcyte

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of Vaxcyte by 115.2% in the first quarter. Royal Bank of Canada now owns 29,471 shares of the company's stock valued at $1,113,000 after acquiring an additional 15,774 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Vaxcyte during the first quarter valued at approximately $219,000. Caxton Associates LLP acquired a new position in Vaxcyte during the first quarter valued at approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Vaxcyte by 8.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 513,998 shares of the company's stock valued at $19,409,000 after purchasing an additional 41,034 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Vaxcyte by 13.8% in the second quarter. Cetera Investment Advisers now owns 7,681 shares of the company's stock valued at $250,000 after purchasing an additional 932 shares in the last quarter. 96.78% of the stock is owned by institutional investors.

Vaxcyte Stock Performance

Shares of PCVX opened at $58.11 on Wednesday. Vaxcyte has a twelve month low of $27.66 and a twelve month high of $65.00. The firm's 50 day moving average price is $56.17 and its two-hundred day moving average price is $47.97. The firm has a market cap of $8.36 billion, a P/E ratio of -10.34 and a beta of 1.31.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.46) by ($0.34). During the same period in the prior year, the company earned ($1.12) EPS. On average, sell-side analysts anticipate that Vaxcyte will post -4.21 earnings per share for the current fiscal year.

Vaxcyte Company Profile

Vaxcyte, Inc NASDAQ: PCVX is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company's platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte's lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.

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