Vaxcyte (NASDAQ:PCVX) Shares Down 4.9% - Here's Why

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)'s stock price traded down 4.9% during trading on Monday . The stock traded as low as $30.67 and last traded at $30.72. 487,632 shares changed hands during trading, a decline of 72% from the average session volume of 1,761,978 shares. The stock had previously closed at $32.29.

Wall Street Analyst Weigh In

Separately, Cowen reissued a "buy" rating on shares of Vaxcyte in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to data from MarketBeat, Vaxcyte presently has a consensus rating of "Buy" and an average price target of $136.50.

Vaxcyte Trading Up 0.1%

The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -7.49 and a beta of 1.21. The stock's 50 day moving average is $33.34 and its 200 day moving average is $42.76.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($1.22) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.10). During the same quarter last year, the business posted ($1.10) EPS. On average, equities research analysts predict that Vaxcyte, Inc. will post -4.21 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers grew its position in shares of Vaxcyte by 5.5% during the 1st quarter. Rhumbline Advisers now owns 181,230 shares of the company's stock worth $6,843,000 after purchasing an additional 9,416 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Vaxcyte by 5.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,600 shares of the company's stock worth $362,000 after purchasing an additional 524 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Vaxcyte by 203.6% during the 1st quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock worth $61,000 after purchasing an additional 1,071 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Vaxcyte by 75.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 96,600 shares of the company's stock worth $3,648,000 after purchasing an additional 41,517 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Vaxcyte by 5.6% during the 4th quarter. Deutsche Bank AG now owns 1,212,706 shares of the company's stock worth $99,272,000 after purchasing an additional 64,522 shares in the last quarter. Institutional investors and hedge funds 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.