Vaxcyte, Inc. (NASDAQ:PCVX) Given Consensus Recommendation of "Buy" by Brokerages

Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) has received a consensus recommendation of "Buy" from the nine ratings firms that are currently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $147.50.

Several equities research analysts have recently issued reports on PCVX shares. Guggenheim restated a "buy" rating and issued a $160.00 target price on shares of Vaxcyte in a report on Wednesday. Needham & Company LLC restated a "buy" rating and set a $140.00 target price on shares of Vaxcyte in a research report on Wednesday. The Goldman Sachs Group assumed coverage on Vaxcyte in a research note on Friday, December 20th. They set a "buy" rating and a $135.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Vaxcyte in a research report on Wednesday, November 6th.

Vaxcyte Price Performance

Shares of Vaxcyte stock traded down $1.20 during trading hours on Tuesday, reaching $73.02. The company's stock had a trading volume of 2,516,246 shares, compared to its average volume of 1,156,013. Vaxcyte has a one year low of $58.10 and a one year high of $121.06. The firm has a 50 day moving average price of $84.86 and a 200-day moving average price of $94.74. The stock has a market cap of $9.10 billion, a P/E ratio of -15.87 and a beta of 0.98.

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Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, topping analysts' consensus estimates of ($1.16) by $0.14. As a group, sell-side analysts forecast that Vaxcyte will post -4.21 EPS for the current fiscal year.

Insider Buying and Selling at Vaxcyte

In related news, CEO Grant Pickering sold 15,000 shares of the company'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 transaction, the chief executive officer now directly owns 450,301 shares of the company's stock, valued at $41,630,327.45. This represents a 3.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jim Wassil sold 8,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $92.49, for a total transaction of $739,920.00. Following the transaction, the chief operating officer now owns 205,695 shares in the company, valued at $19,024,730.55. The trade was a 3.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,616 shares of company stock valued at $6,766,481. Company insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Vaxcyte

Institutional investors and hedge funds have recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in Vaxcyte during the 4th quarter worth approximately $28,000. Blue Trust Inc. grew its holdings 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 acquiring an additional 93 shares during the period. Smartleaf Asset Management LLC raised its position in Vaxcyte by 188.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 398 shares of the company's stock valued at $33,000 after acquiring an additional 260 shares in the last quarter. National Bank of Canada FI acquired a new position in Vaxcyte in the fourth quarter valued at approximately $41,000. Finally, Meeder Asset Management Inc. boosted its position in Vaxcyte by 1,007.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 698 shares of the company's stock worth $80,000 after purchasing an additional 635 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.