Vaxcyte (NASDAQ:PCVX) Earns Buy Rating from Guggenheim

Vaxcyte (NASDAQ:PCVX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Guggenheim in a research note issued to investors on Monday,Benzinga reports. They currently have a $116.00 price target on the stock. Guggenheim’s target price would indicate a potential upside of 110.73% from the stock’s previous close.

PCVX has been the subject of a number of other research reports. Leerink Partners set a $77.00 price target on Vaxcyte and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Needham & Company LLC boosted their target price on Vaxcyte from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a research note on Friday, January 9th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $85.00 target price on shares of Vaxcyte in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Vaxcyte has a consensus rating of “Moderate Buy” and an average target price of $93.83.

Vaxcyte Trading Up 2.8%

PCVX stock traded up $1.48 during trading on Monday, reaching $55.05. The stock had a trading volume of 204,785 shares, compared to its average volume of 1,242,714. The firm has a fifty day moving average price of $47.44 and a 200 day moving average price of $40.86. The company has a market capitalization of $7.21 billion, a P/E ratio of -11.37 and a beta of 1.33. Vaxcyte has a 1-year low of $27.66 and a 1-year high of $91.77.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Tuesday, November 4th. The company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.29). During the same quarter in the previous year, the business posted ($0.83) EPS. Sell-side analysts predict that Vaxcyte will post -4.21 EPS for the current year.

Insider Buying and Selling at Vaxcyte

In other news, SVP Elvia Cowan sold 11,623 shares of Vaxcyte stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $47.92, for a total transaction of $556,974.16. Following the sale, the senior vice president owned 14,534 shares of the company’s stock, valued at approximately $696,469.28. The trade was a 44.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Harpreet S. Dhaliwal sold 9,743 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $46.69, for a total value of $454,900.67. Following the sale, the insider directly owned 23,928 shares of the company’s stock, valued at $1,117,198.32. This represents a 28.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP grew its holdings in Vaxcyte by 148.9% during the third quarter. Allworth Financial LP now owns 1,222 shares of the company’s stock worth $44,000 after acquiring an additional 731 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Vaxcyte during the third quarter valued at $45,000. CIBC Private Wealth Group LLC boosted its position in Vaxcyte by 22,500.0% during the third quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company’s stock worth $49,000 after purchasing an additional 1,350 shares during the period. CWM LLC raised its holdings in Vaxcyte by 197.3% in the 2nd quarter. CWM LLC now owns 1,680 shares of the company’s stock valued at $55,000 after acquiring an additional 1,115 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Vaxcyte by 176.7% during the second quarter. Blue Trust Inc. now owns 2,161 shares of the company’s stock worth $70,000 after purchasing an additional 1,380 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Vaxcyte Company Profile

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company’s platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte’s lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.