Vaxcyte (NASDAQ:PCVX) Price Target Lowered to $137.00 at Bank of America

Vaxcyte (NASDAQ:PCVX - Free Report) had its price target trimmed by Bank of America from $157.00 to $137.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on PCVX. The Goldman Sachs Group started coverage on Vaxcyte in a report on Friday, December 20th. They issued a "buy" rating and a $135.00 target price on the stock. Needham & Company LLC reduced their price objective on shares of Vaxcyte from $140.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Guggenheim restated a "buy" rating and issued a $160.00 target price on shares of Vaxcyte in a report on Wednesday, March 12th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $136.50.

Vaxcyte Stock Up 3.4 %

PCVX traded up $1.04 during trading on Tuesday, hitting $31.60. The company's stock had a trading volume of 5,690,652 shares, compared to its average volume of 1,117,422. The firm has a market capitalization of $4.07 billion, a P/E ratio of -6.87 and a beta of 1.26. Vaxcyte has a twelve month low of $29.57 and a twelve month high of $121.06. The stock's fifty day moving average price is $74.59 and its 200-day moving average price is $89.85.

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

Insiders Place Their Bets

In related news, CFO Andrew Guggenhime sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $86.51, for a total value of $692,080.00. Following the transaction, the chief financial officer now owns 109,491 shares in the company, valued at approximately $9,472,066.41. This represents a 6.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Teri Loxam sold 6,250 shares of the stock in a transaction 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 transaction, the director now directly owns 7,175 shares of the company's stock, valued at approximately $610,664.25. This trade represents a 46.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,250 shares of company stock valued at $3,170,738. Insiders own 3.10% of the company's stock.

Institutional Trading of Vaxcyte

A number of institutional investors have recently modified their holdings of the business. Whipplewood Advisors LLC bought a new position in shares of Vaxcyte in the fourth quarter worth $28,000. Smartleaf Asset Management LLC boosted its stake in Vaxcyte by 188.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 398 shares of the company's stock worth $33,000 after purchasing an additional 260 shares during the period. National Bank of Canada FI purchased a new position in Vaxcyte during the 4th quarter valued at about $41,000. Blue Trust Inc. lifted its holdings in shares of Vaxcyte by 100.0% in the fourth quarter. Blue Trust Inc. now owns 742 shares of the company's stock worth $61,000 after buying an additional 371 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Vaxcyte by 77,500.0% in the fourth quarter. Assetmark Inc. now owns 776 shares of the company's stock valued at $64,000 after acquiring an additional 775 shares during the period. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

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.