Vaxcyte (NASDAQ:PCVX) Announces Earnings Results

Vaxcyte (NASDAQ:PCVX) posted its earnings results on Tuesday. The company reported ($1.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.14, Zacks reports.

Vaxcyte Price Performance

NASDAQ PCVX traded down $2.33 during trading on Tuesday, reaching $79.35. The company’s stock had a trading volume of 1,337,770 shares, compared to its average volume of 1,099,728. The stock has a market capitalization of $9.89 billion, a PE ratio of -17.25 and a beta of 0.98. The firm has a fifty day moving average of $85.46 and a 200 day moving average of $94.99. Vaxcyte has a one year low of $58.10 and a one year high of $121.06.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PCVX shares. The Goldman Sachs Group initiated coverage on Vaxcyte in a research note on Friday, December 20th. They set a “buy” rating and a $135.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of Vaxcyte in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $127.71.

Insider Activity

In other news, 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 owns 7,175 shares of the company’s stock, valued at $610,664.25. This represents a 46.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $88.78, for a total transaction of $710,240.00. Following the sale, the chief financial officer now directly owns 109,491 shares of the company’s stock, valued at $9,720,610.98. This represents a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,616 shares of company stock worth $6,766,481. 3.10% of the stock is currently owned by insiders.

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.