Vaxcyte (NASDAQ:PCVX) Hits New 52-Week Low - What's Next?

Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $28.46 and last traded at $30.20, with a volume of 5746390 shares. The stock had previously closed at $32.51.

Analysts Set New Price Targets

PCVX has been the subject of several recent research reports. Bank of America cut their price target on Vaxcyte from $157.00 to $137.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Evercore ISI raised shares of Vaxcyte to a "strong-buy" rating in a report on Monday, March 31st. The Goldman Sachs Group lowered their price target on shares of Vaxcyte from $138.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Guggenheim reiterated a "buy" rating and issued a $160.00 price target on shares of Vaxcyte in a research report on Wednesday, March 12th. Finally, Needham & Company LLC restated a "buy" rating and set a $90.00 price objective on shares of Vaxcyte in a research report on Tuesday, April 8th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vaxcyte has an average rating of "Buy" and an average target price of $136.50.

Vaxcyte Stock Up 0.5 %

The stock has a market capitalization of $4.04 billion, a PE ratio of -6.82 and a beta of 1.26. The business's fifty day moving average is $66.40 and its two-hundred day moving average is $85.55.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.14. Sell-side analysts expect that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

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Insider Transactions at Vaxcyte

In other Vaxcyte news, 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 transaction, the chief operating officer now owns 154,931 shares in the company, valued at $11,351,794.37. The trade was a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Teri Loxam sold 6,250 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.11, for a total value of $531,937.50. Following the sale, the director now directly owns 7,175 shares of the company's stock, valued at $610,664.25. This represents a 46.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,250 shares of company stock worth $3,170,738. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of Vaxcyte

Hedge funds have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC purchased a new stake in Vaxcyte during the fourth quarter worth $28,000. Smartleaf Asset Management LLC lifted its position in shares of 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 buying an additional 260 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of Vaxcyte in the 4th quarter valued at about $41,000. Blue Trust Inc. grew its position in shares of Vaxcyte by 100.0% in the 4th quarter. Blue Trust Inc. now owns 742 shares of the company's stock worth $61,000 after buying an additional 371 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Vaxcyte by 77,500.0% during the 4th quarter. Assetmark Inc. now owns 776 shares of the company's stock worth $64,000 after acquiring an additional 775 shares in the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

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.