Vaxcyte (NASDAQ:PCVX) Given New $100.00 Price Target at The Goldman Sachs Group

Vaxcyte (NASDAQ:PCVX) had its price target cut by The Goldman Sachs Group from $138.00 to $100.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on PCVX. Needham & Company LLC cut their target price on Vaxcyte from $140.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday. Bank of America dropped their price objective on shares of Vaxcyte from $157.00 to $137.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Guggenheim reaffirmed a “buy” rating and set a $160.00 target price on shares of Vaxcyte in a research report on Wednesday, March 12th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $136.50.

Vaxcyte Stock Performance

Vaxcyte stock opened at $32.23 on Tuesday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -7.01 and a beta of 1.02. Vaxcyte has a 52-week low of $30.12 and a 52-week high of $121.06. The stock’s 50 day moving average price is $78.00 and its two-hundred day moving average price is $91.24.

Vaxcyte (NASDAQ:PCVX) last issued its earnings results on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.14. On average, equities research analysts forecast that Vaxcyte will post -4.21 EPS for the current year.

Insider Buying and Selling at Vaxcyte

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $86.51, for a total value of $692,080.00. Following the completion of the transaction, the chief financial officer now owns 109,491 shares in the company, valued at approximately $9,472,066.41. This represents a 6.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teri Loxam sold 6,250 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total transaction of $531,937.50. Following the sale, the director now owns 7,175 shares of the company’s stock, valued at $610,664.25. This trade represents a 46.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,250 shares of company stock valued at $3,840,018 in the last quarter. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Vaxcyte

Hedge funds have recently bought and sold shares of the stock. Diversified Trust Co bought a new stake in Vaxcyte during the fourth quarter worth approximately $1,433,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Vaxcyte by 23.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,428 shares of the company’s stock valued at $2,163,000 after acquiring an additional 4,962 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Vaxcyte by 53.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 413,637 shares of the company’s stock valued at $33,860,000 after buying an additional 144,516 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Vaxcyte by 186.2% during the third quarter. Principal Financial Group Inc. now owns 52,702 shares of the company’s stock valued at $6,022,000 after purchasing an additional 34,287 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Vaxcyte by 70.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 593,523 shares of the company’s stock valued at $49,418,000 after purchasing an additional 246,049 shares in the last quarter. Hedge funds and other 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.