Vaxcyte (NASDAQ:PCVX) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Vaxcyte from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $86.
• Vaxcyte shares opened at $58.86, with a market capitalization of approximately $8.76 billion. The company recently reported a quarterly loss of $1.97 per share, beating estimates for a $2.06 loss.
• Insiders sold 120,646 shares worth about $6.57 million over the past 90 days, while institutional investors own 96.78% of the company. Vaxcyte is developing preventive vaccines, including its lead 24-valent pneumococcal candidate, VAX-24.

Vaxcyte (NASDAQ:PCVX - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on PCVX. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vaxcyte in a research note on Monday, July 6th. Wall Street Zen raised shares of Vaxcyte from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $86.00.

Vaxcyte Stock Down 1.3%

Shares of Vaxcyte stock opened at $58.86 on Wednesday. Vaxcyte has a twelve month low of $29.87 and a twelve month high of $65.00. The business has a 50-day moving average price of $54.73 and a 200-day moving average price of $55.49. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of -7.71 and a beta of 1.23.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) EPS for the quarter, beating analysts' consensus estimates of ($2.06) by $0.09. During the same period in the prior year, the business earned ($1.22) EPS. On average, equities analysts expect that Vaxcyte will post -7.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Vaxcyte news, insider Harpreet S. Dhaliwal sold 17,000 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $55.00, for a total transaction of $935,000.00. Following the transaction, the insider owned 76,756 shares in the company, valued at $4,221,580. The trade was a 18.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Guggenhime sold 10,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $53.89, for a total transaction of $538,900.00. Following the completion of the sale, the chief financial officer owned 105,176 shares of the company's stock, valued at $5,667,934.64. This trade represents a 8.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 120,646 shares of company stock worth $6,570,810. 3.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vaxcyte

Hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Vaxcyte by 156.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the company's stock worth $27,000 after purchasing an additional 364 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Vaxcyte by 1,463.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 641 shares of the company's stock worth $30,000 after buying an additional 600 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Vaxcyte by 33.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company's stock worth $34,000 after buying an additional 184 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Vaxcyte by 22,500.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company's stock worth $49,000 after acquiring an additional 1,350 shares during the last quarter. Finally, Capital Advisors Ltd. LLC purchased a new position in Vaxcyte during the 1st quarter valued at $58,000. 96.78% of the stock is currently owned by institutional investors.

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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