Vaxcyte (NASDAQ:PCVX) Insider Harpreet Dhaliwal Sells 17,000 Shares

Key Points

• Vaxcyte insider Harpreet Dhaliwal sold 17,000 shares at an average price of $55, generating $935,000. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced Dhaliwal’s ownership by 18.13%.
• Vaxcyte reported quarterly EPS of -$1.97, beating analysts’ consensus estimate of -$2.06. The stock traded at $55.92, with a market capitalization of approximately $8.07 billion.
• Analyst sentiment is mixed, with six Buy ratings, one Hold, and two Sell ratings; the average rating is Hold with an $86 price target. Institutional investors own 96.78% of the company, while Vaxcyte continues developing its lead VAX-24 pneumococcal vaccine candidate.

Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) insider Harpreet Dhaliwal sold 17,000 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $55.00, for a total value of $935,000.00. Following the completion of the sale, the insider owned 76,756 shares of the company's stock, valued at $4,221,580. This trade represents a 18.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vaxcyte Price Performance

Vaxcyte stock traded up $1.23 during trading on Wednesday, reaching $55.92. 886,273 shares of the company were exchanged, compared to its average volume of 972,456. Vaxcyte, Inc. has a 52-week low of $29.08 and a 52-week high of $65.00. The company has a market capitalization of $8.07 billion, a P/E ratio of -8.13 and a beta of 1.23. The stock's 50 day simple moving average is $53.56 and its two-hundred day simple moving average is $55.10.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.97) earnings per share for the quarter, topping analysts' consensus estimates of ($2.06) by $0.09. During the same period last year, the business posted ($1.22) EPS. As a group, equities analysts forecast that Vaxcyte, Inc. will post -7.91 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Vaxcyte

Several hedge funds and other institutional investors have recently modified their holdings of PCVX. Janus Henderson Group PLC lifted its holdings in Vaxcyte by 23.8% during the 1st quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company's stock valued at $960,231,000 after purchasing an additional 3,188,687 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of 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 valued at $521,213,000 after acquiring an additional 2,981,038 shares during the period. Wellington Management Group LLP increased its position in Vaxcyte by 18.5% during the fourth quarter. Wellington Management Group LLP now owns 5,966,310 shares of the company's stock worth $275,286,000 after acquiring an additional 933,539 shares during the period. State Street Corp grew its position in shares of Vaxcyte by 4.1% during the 4th quarter. State Street Corp now owns 4,980,005 shares of the company's stock worth $229,777,000 after purchasing an additional 194,116 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its stake in shares of Vaxcyte by 7.5% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 4,068,020 shares of the company's stock valued at $187,698,000 after buying an additional 283,265 shares during the period. Institutional investors and hedge funds 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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