Vaxcyte (NASDAQ:PCVX) Announces Quarterly Earnings Results

Vaxcyte (NASDAQ:PCVX) posted its quarterly earnings data on Wednesday. The company reported ($1.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.11) by $0.12, FiscalAI reports.

Vaxcyte Stock Up 8.0%

NASDAQ PCVX traded up $4.87 during trading on Wednesday, reaching $65.68. 2,257,729 shares of the stock traded hands, compared to its average volume of 1,640,697. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of -8.61 and a beta of 1.31. The stock’s 50-day moving average price is $61.64 and its 200 day moving average price is $57.16. Vaxcyte has a fifty-two week low of $39.87 and a fifty-two week high of $90.75.

Insider Activity at Vaxcyte

In other Vaxcyte news, EVP Jim Wassil sold 2,250 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $60.90, for a total value of $137,025.00. Following the sale, the executive vice president directly owned 145,435 shares in the company, valued at approximately $8,856,991.50. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 3,000 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $60.92, for a total transaction of $182,760.00. Following the completion of the sale, the chief accounting officer owned 27,860 shares in the company, valued at approximately $1,697,231.20. This trade represents a 9.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 50,692 shares of company stock valued at $4,032,875 in the last ninety days. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

PCVX has been the subject of a number of recent research reports. Guggenheim boosted their target price on Vaxcyte from $116.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $120.00 price target on shares of Vaxcyte in a report on Monday, October 12th. Wall Street Zen upgraded Vaxcyte from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. BTIG Research reiterated a “buy” rating and issued a $89.00 price objective on shares of Vaxcyte in a research report on Monday, October 5th. Finally, Needham & Company LLC boosted their price objective on Vaxcyte from $110.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.50.

Vaxcyte Company Profile

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing vaccines designed to protect against serious bacterial diseases. The company is headquartered in San Carlos, California, and uses its proprietary cell-free protein synthesis and conjugation technologies to develop vaccine candidates intended to provide broad and durable immune protection.

Vaxcyte’s lead programs target pneumococcal disease, an infection caused by Streptococcus pneumoniae.