Vaxcyte (NASDAQ:PCVX) Stock Price Down 4.9% - What's Next?

Key Points

• Vaxcyte (NASDAQ:PCVX) saw a stock price decline of 4.9%, trading as low as $30.67 and closing at $30.72, significantly below its average trading volume.
• Despite the recent drop, Vaxcyte maintains an average rating of "Buy" from analysts, with a target price of $136.50 and positive endorsements from multiple investment firms.
• The company's latest earnings report revealed a loss of ($1.22) EPS, missing analysts' expectations, as the firm aims to improve its prospects with various vaccine developments.

Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) traded down 4.9% during mid-day trading on Monday . The company traded as low as $30.67 and last traded at $30.72. 487,632 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 1,761,978 shares. The stock had previously closed at $32.29.

Analyst Upgrades and Downgrades

Separately, Cowen reiterated a "buy" rating on shares of Vaxcyte in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat.com, Vaxcyte currently has an average rating of "Buy" and an average target price of $136.50.

Vaxcyte Stock Down 5.1%

The stock's 50-day moving average is $33.64 and its 200-day moving average is $44.10. The firm has a market cap of $3.98 billion, a P/E ratio of -7.45 and a beta of 1.21.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.10). During the same period last year, the company earned ($1.10) EPS. As a group, analysts expect that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Vaxcyte

A number of institutional investors and hedge funds have recently bought and sold shares of PCVX. Bridgefront Capital LLC lifted its position in Vaxcyte by 4.2% during the 4th quarter. Bridgefront Capital LLC now owns 4,244 shares of the company's stock valued at $347,000 after purchasing an additional 172 shares during the period. Nisa Investment Advisors LLC lifted its position in Vaxcyte by 10.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,977 shares of the company's stock valued at $112,000 after purchasing an additional 293 shares during the period. Avior Wealth Management LLC lifted its position in Vaxcyte by 5.3% during the 1st quarter. Avior Wealth Management LLC now owns 6,799 shares of the company's stock valued at $257,000 after purchasing an additional 343 shares during the period. HighVista Strategies LLC lifted its position in Vaxcyte by 1.1% during the 2nd quarter. HighVista Strategies LLC now owns 33,457 shares of the company's stock valued at $1,088,000 after purchasing an additional 355 shares during the period. Finally, US Bancorp DE lifted its position in Vaxcyte by 7.2% during the 1st quarter. US Bancorp DE now owns 5,344 shares of the company's stock valued at $202,000 after purchasing an additional 357 shares during the period. Institutional investors own 96.78% of the company's stock.

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.

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