Cantor Fitzgerald Initiates Coverage on Vaxcyte (NASDAQ:PCVX)

Research analysts at Cantor Fitzgerald initiated coverage on shares of Vaxcyte (NASDAQ:PCVX - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set an "overweight" rating on the stock. Cantor Fitzgerald also issued estimates for Vaxcyte's FY2025 earnings at ($5.10) EPS.

Several other equities research analysts have also weighed in on PCVX. Needham & Company LLC restated a "buy" rating and set a $90.00 price target on shares of Vaxcyte in a research report on Tuesday, April 8th. Guggenheim restated a "buy" rating and set a $160.00 target price on shares of Vaxcyte in a report on Wednesday, March 12th. Bank of America reduced their target price on shares of Vaxcyte from $157.00 to $137.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Evercore ISI raised shares of Vaxcyte to a "strong-buy" rating in a research report on Monday, March 31st. Finally, The Goldman Sachs Group cut their price objective on shares of Vaxcyte from $138.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Vaxcyte has a consensus rating of "Buy" and an average target price of $136.50.

Vaxcyte Stock Down 4.6 %

Shares of NASDAQ:PCVX traded down $1.59 on Tuesday, hitting $32.92. The company had a trading volume of 1,638,022 shares, compared to its average volume of 1,234,781. The firm's 50-day simple moving average is $55.57 and its two-hundred day simple moving average is $80.12. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of -7.16 and a beta of 1.26. Vaxcyte has a 1 year low of $27.66 and a 1 year high of $121.06.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.16) by $0.14. Equities research analysts anticipate that Vaxcyte will post -4.21 EPS for the current year.

Insiders Place Their Bets

In other Vaxcyte news, COO Jim Wassil sold 8,000 shares of Vaxcyte stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $73.27, for a total value of $586,160.00. Following the completion of the sale, the chief operating officer now owns 154,931 shares of the company's stock, valued at approximately $11,351,794.37. This trade represents a 4.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 24,000 shares of company stock valued at $1,946,720. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Vaxcyte

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Vaxcyte by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company's stock valued at $979,184,000 after acquiring an additional 521,204 shares during the period. Capital Research Global Investors raised its holdings in shares of Vaxcyte by 26.8% during the fourth quarter. Capital Research Global Investors now owns 6,210,523 shares of the company's stock valued at $508,393,000 after purchasing an additional 1,312,302 shares during the last quarter. Franklin Resources Inc. lifted its position in Vaxcyte by 3.0% during the fourth quarter. Franklin Resources Inc. now owns 2,869,332 shares of the company's stock valued at $234,884,000 after purchasing an additional 82,997 shares during the period. Geode Capital Management LLC boosted its holdings in Vaxcyte by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 2,802,888 shares of the company's stock worth $229,495,000 after purchasing an additional 102,106 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Vaxcyte by 8.1% in the fourth quarter. Alliancebernstein L.P. now owns 1,779,362 shares of the company's stock worth $145,659,000 after purchasing an additional 133,448 shares during the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

About Vaxcyte

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.