Vaxcyte's (PCVX) "Buy" Rating Reiterated at Needham & Company LLC

Vaxcyte (NASDAQ:PCVX - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $14.00 price target on the stock. Needham & Company LLC's price objective would indicate a potential downside of 83.27% from the company's current price.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group started coverage on Vaxcyte in a research note on Friday, December 20th. They set a "buy" rating and a $135.00 price target on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Vaxcyte in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vaxcyte currently has an average rating of "Buy" and an average target price of $127.71.

Vaxcyte Trading Down 0.2 %

Shares of PCVX traded down $0.16 during trading hours on Tuesday, hitting $83.68. 416,920 shares of the stock traded hands, compared to its average volume of 1,094,635. Vaxcyte has a 1-year low of $58.10 and a 1-year high of $121.06. The firm has a market capitalization of $10.43 billion, a PE ratio of -18.21 and a beta of 0.98. The business has a fifty day moving average of $86.54 and a 200-day moving average of $94.43.

Insider Buying and Selling at Vaxcyte

In other news, CEO Grant Pickering sold 15,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $92.45, for a total transaction of $1,386,750.00. Following the sale, the chief executive officer now owns 450,301 shares of the company's stock, valued at $41,630,327.45. This trade represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jim Wassil sold 8,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $92.49, for a total value of $739,920.00. Following the sale, the chief operating officer now directly owns 205,695 shares in the company, valued at approximately $19,024,730.55. This represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,616 shares of company stock valued at $6,095,681. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vaxcyte

A number of hedge funds have recently modified their holdings of the business. Creative Planning grew its holdings in shares of Vaxcyte by 37.6% during the third quarter. Creative Planning now owns 37,525 shares of the company's stock worth $4,288,000 after buying an additional 10,245 shares in the last quarter. Riverview Trust Co bought a new position in shares of Vaxcyte during the third quarter worth about $27,000. Blue Trust Inc. grew its holdings in shares of Vaxcyte by 33.5% during the third quarter. Blue Trust Inc. now owns 371 shares of the company's stock worth $42,000 after buying an additional 93 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Vaxcyte by 17.0% during the third quarter. Raymond James & Associates now owns 81,235 shares of the company's stock worth $9,283,000 after buying an additional 11,798 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Vaxcyte by 1.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 347,474 shares of the company's stock worth $39,706,000 after buying an additional 3,922 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.