Vaxcyte (NASDAQ:PCVX) Hits New 52-Week High on Analyst Upgrade

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) hit a new 52-week high during mid-day trading on Tuesday after Mizuho raised their price target on the stock from $113.00 to $163.00. Mizuho currently has an outperform rating on the stock. Vaxcyte traded as high as $119.50 and last traded at $117.95, with a volume of 345356 shares. The stock had previously closed at $115.28.

Other analysts have also recently issued research reports about the company. Bank of America increased their target price on Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Leerink Partners increased their price objective on shares of Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Vaxcyte in a report on Thursday, June 20th. Jefferies Financial Group upped their target price on shares of Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC lifted their price target on shares of Vaxcyte from $95.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $147.50.

Insider Activity at Vaxcyte

In related news, COO Jim Wassil sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $111.93, for a total transaction of $1,119,300.00. Following the sale, the chief operating officer now owns 207,503 shares of the company’s stock, valued at $23,225,810.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Grant Pickering sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.64, for a total value of $1,134,600.00. Following the completion of the sale, the chief executive officer now directly owns 478,888 shares of the company’s stock, valued at approximately $36,223,088.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jim Wassil sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $111.93, for a total value of $1,119,300.00. Following the transaction, the chief operating officer now directly owns 207,503 shares in the company, valued at approximately $23,225,810.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,283 shares of company stock valued at $7,271,218. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of Vaxcyte

A number of institutional investors have recently bought and sold shares of PCVX. Parallel Advisors LLC raised its stake in shares of Vaxcyte by 155.3% in the fourth quarter. Parallel Advisors LLC now owns 411 shares of the company’s stock valued at $26,000 after acquiring an additional 250 shares during the period. Fifth Third Bancorp purchased a new stake in Vaxcyte in the 2nd quarter worth about $35,000. Fidelis Capital Partners LLC bought a new stake in Vaxcyte in the first quarter worth about $37,000. J.Safra Asset Management Corp boosted its position in shares of Vaxcyte by 649.4% during the second quarter. J.Safra Asset Management Corp now owns 607 shares of the company’s stock valued at $46,000 after buying an additional 526 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Vaxcyte during the second quarter valued at approximately $70,000. 96.78% of the stock is currently owned by institutional investors.

Vaxcyte Stock Down 2.3 %

The stock has a market cap of $12.35 billion, a P/E ratio of -26.53 and a beta of 0.97. The business has a 50 day moving average price of $84.11 and a 200 day moving average price of $74.38.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.04. During the same period in the prior year, the company posted ($0.70) earnings per share. On average, research analysts expect that Vaxcyte, Inc. will post -4.33 earnings per share for the current fiscal year.

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.