Vaxcyte (NASDAQ:PCVX) Trading Down 5.9% - Time to Sell?

Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) shares traded down 5.9% on Tuesday . The stock traded as low as $105.85 and last traded at $106.10. 532,179 shares changed hands during trading, a decline of 36% from the average session volume of 826,559 shares. The stock had previously closed at $112.80.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Leerink Partners raised their price target on Vaxcyte from $106.00 to $153.00 and gave the company an "outperform" rating in a report on Tuesday, September 3rd. Needham & Company LLC lifted their price objective on Vaxcyte from $95.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Bank of America increased their price target on Vaxcyte from $101.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Mizuho raised their price objective on shares of Vaxcyte from $113.00 to $163.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Finally, BTIG Research increased their target price on shares of Vaxcyte from $98.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Vaxcyte has a consensus rating of "Buy" and an average target price of $147.50.

Vaxcyte Trading Down 6.4 %

The company has a market cap of $11.78 billion, a P/E ratio of -22.56 and a beta of 0.99. The stock's 50 day moving average is $107.29 and its 200-day moving average is $85.10.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.04. During the same quarter in the prior year, the business earned ($0.70) EPS. As a group, sell-side analysts forecast that Vaxcyte, Inc. will post -4.33 EPS for the current year.

Insider Activity

In related news, CEO Grant Pickering sold 15,000 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $78.98, for a total value of $1,184,700.00. Following the completion of the sale, the chief executive officer now directly owns 478,888 shares in the company, valued at $37,822,574.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Grant Pickering sold 15,000 shares of the company's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $78.98, for a total transaction of $1,184,700.00. Following the transaction, the chief executive officer now directly owns 478,888 shares of the company's stock, valued at approximately $37,822,574.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Guggenhime sold 42,000 shares of the firm's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $115.39, for a total value of $4,846,380.00. Following the completion of the transaction, the chief financial officer now owns 90,383 shares of the company's stock, valued at $10,429,294.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,098 shares of company stock worth $9,937,773 over the last 90 days. Corporate insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Vaxcyte

A number of institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new stake in Vaxcyte in the third quarter valued at approximately $27,000. Blue Trust Inc. grew its position in Vaxcyte by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company's stock valued at $42,000 after buying an additional 93 shares during the last quarter. Fifth Third Bancorp acquired a new position in Vaxcyte during the 2nd quarter worth approximately $35,000. Fidelis Capital Partners LLC acquired a new stake in shares of Vaxcyte in the first quarter valued at about $37,000. Finally, J.Safra Asset Management Corp increased its position in shares of Vaxcyte by 649.4% in 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 in the last quarter. 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.