The Goldman Sachs Group Lowers Vaxcyte (NASDAQ:PCVX) Price Target to $100.00

Vaxcyte (NASDAQ:PCVX) had its target price lowered by The Goldman Sachs Group from $138.00 to $100.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently weighed in on PCVX. Bank of America dropped their price objective on shares of Vaxcyte from $157.00 to $137.00 and set a “buy” rating for the company in a research note on Tuesday. Guggenheim reiterated a “buy” rating and issued a $160.00 price target on shares of Vaxcyte in a research note on Wednesday, March 12th. Finally, Needham & Company LLC lowered their price objective on Vaxcyte from $140.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday. Nine investment 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 presently has an average rating of “Buy” and an average target price of $136.50.

Vaxcyte Trading Down 9.3 %

Vaxcyte stock opened at $30.56 on Tuesday. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of -6.64 and a beta of 1.26. Vaxcyte has a 12 month low of $30.01 and a 12 month high of $121.06. The stock’s 50 day moving average is $75.75 and its 200-day moving average is $90.42.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.02) earnings per share for the quarter, topping the consensus estimate of ($1.16) by $0.14. As a group, equities research analysts predict that Vaxcyte will post -4.21 earnings per share for the current fiscal year.

Insider Activity at Vaxcyte

In other Vaxcyte news, Director Teri Loxam sold 6,250 shares of the 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 transaction, the director now owns 7,175 shares in the company, valued at approximately $610,664.25. This represents a 46.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $86.51, for a total value of $692,080.00. Following the completion of the sale, the chief financial officer now directly owns 109,491 shares of the company’s stock, valued at $9,472,066.41. This trade represents a 6.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,250 shares of company stock worth $3,170,738 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PCVX. Whipplewood Advisors LLC acquired a new stake in shares of Vaxcyte in the 4th quarter worth about $28,000. Smartleaf Asset Management LLC increased its holdings in Vaxcyte by 188.4% during 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 in the last quarter. National Bank of Canada FI purchased a new stake in shares of Vaxcyte in the fourth quarter worth approximately $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 valued at $61,000 after purchasing an additional 371 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Vaxcyte by 77,500.0% during the fourth quarter. Assetmark Inc. now owns 776 shares of the company’s stock valued at $64,000 after buying an additional 775 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

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.