Insider Selling: Vaxcyte (NASDAQ:PCVX) Insider Sells 17,000 Shares of Company Stock

Vaxcyte, Inc. (NASDAQ:PCVX) insider Harpreet Dhaliwal sold 17,000 shares of the company’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $67.83, for a total transaction of $1,153,110.00. Following the completion of the sale, the insider owned 68,085 shares of the company’s stock, valued at approximately $4,618,205.55. The trade was a 19.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vaxcyte Stock Down 2.0%

Shares of PCVX traded down $1.32 during trading hours on Friday, reaching $63.37. 623,288 shares of the stock traded hands, compared to its average volume of 1,631,687. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $62.19 and a 200 day simple moving average of $57.60. Vaxcyte, Inc. has a 52 week low of $42.40 and a 52 week high of $90.75. The company has a market cap of $10.03 billion, a price-to-earnings ratio of -7.86 and a beta of 1.31.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($1.99) earnings per share for the quarter, topping the consensus estimate of ($2.11) by $0.12. During the same quarter in the previous year, the firm earned ($1.56) EPS. On average, equities analysts forecast that Vaxcyte, Inc. will post -7.51 EPS for the current year.

Hedge Funds Weigh In On Vaxcyte

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC lifted its stake in shares of Vaxcyte by 4.0% in the 2nd quarter. Hsbc Holdings PLC now owns 4,151 shares of the company’s stock valued at $241,000 after acquiring an additional 159 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Vaxcyte by 5.3% in the third quarter. Nisa Investment Advisors LLC now owns 4,189 shares of the company’s stock worth $238,000 after purchasing an additional 209 shares during the last quarter. Covestor Ltd grew its holdings in shares of Vaxcyte by 31.1% in the third quarter. Covestor Ltd now owns 939 shares of the company’s stock worth $53,000 after purchasing an additional 223 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Vaxcyte by 2.9% in the first quarter. Meeder Advisory Services Inc. now owns 8,335 shares of the company’s stock worth $484,000 after buying an additional 231 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of Vaxcyte by 72.8% in the second quarter. IFP Advisors Inc now owns 560 shares of the company’s stock worth $33,000 after buying an additional 236 shares during the period. 96.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Guggenheim lifted their target price on shares of Vaxcyte from $116.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. BTIG Research reaffirmed a “buy” rating and issued a $89.00 target price on shares of Vaxcyte in a report on Monday, October 5th. Zacks Research raised Vaxcyte from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Bank of America dropped their price target on Vaxcyte from $133.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, September 28th. Finally, Needham & Company LLC lifted their price target on Vaxcyte from $110.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Seven equities 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 company’s stock. According to data from MarketBeat.com, Vaxcyte currently has a consensus rating of “Moderate Buy” and an average target price of $110.50.

Vaxcyte Company Profile

Vaxcyte, Inc. is a clinical-stage biotechnology company developing vaccines to prevent bacterial infectious diseases. Its research focuses on conjugate vaccines, which link bacterial sugars to carrier proteins to help generate an immune response. The company’s pipeline includes VAX-24 and VAX-31, investigational pneumococcal vaccines designed to protect against a broad range of strains, as well as VAX-A1, a candidate targeting Group A Streptococcus. Vaxcyte has no approved commercial vaccines; its programs remain under development.