Vaxcyte (NASDAQ:PCVX) CFO Andrew Guggenhime Sells 10,000 Shares of Stock

Key Points

• Vaxcyte CFO Andrew Guggenhime sold 10,000 shares at an average price of $53.89, generating $538,900. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his direct holdings by 8.68% to 105,176 shares.
• Vaxcyte shares rose 2.2% to $55.92, while the company reported a quarterly loss of $1.97 per share—better than analysts’ expectation of a $2.06 loss.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $86.00. Institutional investors own 96.78% of the company, with several major funds recently increasing their positions.

Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) CFO Andrew Guggenhime sold 10,000 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $53.89, for a total value of $538,900.00. Following the completion of the sale, the chief financial officer directly owned 105,176 shares of the company's stock, valued at approximately $5,667,934.64. This trade represents a 8.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Guggenhime also recently made the following trade(s):

• On Monday, July 6th, Andrew Guggenhime sold 10,000 shares of Vaxcyte stock. The shares were sold at an average price of $57.28, for a total value of $572,800.00.
• On Thursday, June 18th, Andrew Guggenhime sold 10,000 shares of Vaxcyte stock. The stock was sold at an average price of $53.00, for a total value of $530,000.00.

Vaxcyte Trading Up 2.2%

NASDAQ:PCVX traded up $1.23 on Wednesday, hitting $55.92. 886,273 shares of the company's stock traded hands, compared to its average volume of 1,429,150. The company has a market cap of $8.07 billion, a PE ratio of -8.13 and a beta of 1.23. Vaxcyte, Inc. has a 1 year low of $29.08 and a 1 year high of $65.00. The firm has a 50-day moving average price of $53.47 and a 200-day moving average price of $55.05.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.06) by $0.09. On average, research analysts forecast that Vaxcyte, Inc. will post -7.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PCVX. Zacks Research lowered shares of Vaxcyte from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vaxcyte in a report on Monday, July 6th. Finally, Wall Street Zen cut Vaxcyte from a "sell" rating to a "strong sell" rating in a research report on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $86.00.

Hedge Funds Weigh In On Vaxcyte

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its position in Vaxcyte by 23.8% in the first quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company's stock worth $960,231,000 after acquiring an additional 3,188,687 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Vaxcyte by 35.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company's stock worth $521,213,000 after purchasing an additional 2,981,038 shares in the last quarter. Caligan Partners LP acquired a new position in Vaxcyte during the fourth quarter worth $78,660,000. Adage Capital Partners GP L.L.C. raised its holdings in Vaxcyte by 418.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,725,000 shares of the company's stock valued at $79,592,000 after buying an additional 1,392,000 shares in the last quarter. Finally, Polar Capital Holdings Plc lifted its position in shares of Vaxcyte by 302.6% in the fourth quarter. Polar Capital Holdings Plc now owns 1,672,783 shares of the company's stock worth $77,182,000 after buying an additional 1,257,253 shares during the last quarter. Institutional investors own 96.78% of the company's stock.

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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