Vaxcyte (NASDAQ:PCVX) Stock Price Down 5.8% – Here’s Why

Vaxcyte, Inc. (NASDAQ:PCVX)’s share price fell 5.8% during mid-day trading on Friday . The stock traded as low as $80.57 and last traded at $80.79. 475,390 shares were traded during mid-day trading, a decline of 48% from the average session volume of 916,270 shares. The stock had previously closed at $85.78.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PCVX shares. Mizuho increased their price objective on Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Vaxcyte in a report on Wednesday, November 6th. BTIG Research lifted their price target on Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group upped their price objective on shares of Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $145.71.

Vaxcyte Stock Down 5.6 %

The firm has a market capitalization of $10.09 billion, a PE ratio of -17.60 and a beta of 0.94. The business’s 50-day moving average price is $95.66 and its 200-day moving average price is $92.73.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.27. During the same quarter in the previous year, the company posted ($0.91) earnings per share. On average, analysts anticipate that Vaxcyte, Inc. will post -4.14 EPS for the current fiscal year.

Insider Activity at Vaxcyte

In other Vaxcyte news, CFO Andrew Guggenhime sold 42,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $115.39, for a total value of $4,846,380.00. Following the completion of the sale, the chief financial officer now directly owns 90,383 shares of the company’s stock, valued at $10,429,294.37. The trade was a 31.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Grant Pickering sold 2,366 shares of Vaxcyte stock in a transaction on Monday, December 9th. The shares were sold at an average price of $92.25, for a total transaction of $218,263.50. Following the completion of the sale, the chief executive officer now directly owns 136,215 shares of the company’s stock, valued at approximately $12,565,833.75. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,830 shares of company stock valued at $12,383,030. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in Vaxcyte by 33.5% during the third quarter. Blue Trust Inc. now owns 371 shares of the company’s stock worth $42,000 after purchasing an additional 93 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Vaxcyte by 5.2% in the third quarter. Nisa Investment Advisors LLC now owns 2,209 shares of the company’s stock worth $252,000 after buying an additional 110 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Vaxcyte by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 3,136 shares of the company’s stock worth $358,000 after buying an additional 110 shares during the period. Amalgamated Bank grew its stake in Vaxcyte by 4.2% in the 2nd quarter. Amalgamated Bank now owns 3,759 shares of the company’s stock valued at $284,000 after buying an additional 150 shares during the last quarter. Finally, Riverview Trust Co bought a new position in Vaxcyte in the 3rd quarter worth $27,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

Vaxcyte Company Profile

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.