Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $138.00 to $100.00. The Goldman Sachs Group currently has a buy rating on the stock. Vaxcyte traded as low as $30.12 and last traded at $37.76, with a volume of 13995362 shares trading hands. The stock had previously closed at $69.46.
Other research analysts also recently issued research reports about the company. Bank of America lowered their price target on Vaxcyte from $157.00 to $137.00 and set a "buy" rating on the stock in a report on Tuesday. Needham & Company LLC decreased their price objective on Vaxcyte from $140.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Guggenheim reiterated a "buy" rating and issued a $160.00 target price on shares of Vaxcyte in a report on Wednesday, March 12th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $136.50.
Get Our Latest Stock Analysis on Vaxcyte
Insiders Place Their Bets
In other Vaxcyte news, Director Teri Loxam sold 6,250 shares of Vaxcyte stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total value of $531,937.50. Following the completion of the sale, the director now directly owns 7,175 shares in the company, valued at $610,664.25. The trade was a 46.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jim Wassil sold 8,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $73.27, for a total transaction of $586,160.00. Following the completion of the sale, the chief operating officer now directly owns 154,931 shares of the company's stock, valued at $11,351,794.37. This represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,250 shares of company stock valued at $3,170,738 in the last three months. Insiders own 3.10% of the company's stock.
Institutional Investors Weigh In On Vaxcyte
Several institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in Vaxcyte by 17.5% during the fourth quarter. California State Teachers Retirement System now owns 105,052 shares of the company's stock valued at $8,600,000 after buying an additional 15,616 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Vaxcyte during the 4th quarter valued at about $8,487,000. Forum Financial Management LP bought a new position in shares of Vaxcyte in the 4th quarter valued at approximately $255,000. GF Fund Management CO. LTD. acquired a new stake in Vaxcyte in the 4th quarter worth approximately $214,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Vaxcyte by 15.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 472,964 shares of the company's stock worth $38,717,000 after purchasing an additional 64,690 shares during the period. Institutional investors and hedge funds own 96.78% of the company's stock.
Vaxcyte Price Performance
The company has a market cap of $4.07 billion, a price-to-earnings ratio of -6.87 and a beta of 1.26. The firm has a fifty day simple moving average of $74.59 and a 200 day simple moving average of $89.66.
Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.16) by $0.14. Analysts expect that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.
Vaxcyte Company Profile
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Get Free Report)
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.
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