Vaxcyte (NASDAQ:PCVX) Announces Earnings Results

Vaxcyte (NASDAQ:PCVX - Get Free Report) released its earnings results on Tuesday. The company reported ($1.02) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.14, Zacks reports.

Vaxcyte Trading Down 1.6 %

PCVX stock traded down $1.20 during trading on Friday, reaching $73.02. 2,530,601 shares of the stock were exchanged, compared to its average volume of 1,156,456. The business has a 50 day moving average price of $84.59 and a 200-day moving average price of $94.83. Vaxcyte has a 1 year low of $58.10 and a 1 year high of $121.06. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of -15.87 and a beta of 0.98.

Analyst Ratings Changes

PCVX has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on Vaxcyte in a report on Friday, December 20th. They issued a "buy" rating and a $135.00 price objective on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Vaxcyte in a research note on Wednesday, November 6th. Needham & Company LLC reissued a "buy" rating and issued a $140.00 price target on shares of Vaxcyte in a research note on Wednesday. Finally, Guggenheim reissued a "buy" rating and issued a $160.00 price target on shares of Vaxcyte in a research note on Wednesday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $147.50.

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Insiders Place Their Bets

In other Vaxcyte news, COO Jim Wassil sold 8,000 shares of Vaxcyte stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $83.66, for a total value of $669,280.00. Following the sale, the chief operating officer now owns 205,695 shares in the company, valued at $17,208,443.70. The trade was a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Grant Pickering sold 15,000 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $92.45, for a total transaction of $1,386,750.00. Following the completion of the sale, the chief executive officer now owns 450,301 shares in the company, valued at approximately $41,630,327.45. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,616 shares of company stock valued at $6,766,481 over the last ninety days. Company insiders own 3.10% 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.