Vaxcyte (NASDAQ:PCVX) Trading Up 8.7% – Time to Buy?

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) shot up 8.7% on Friday . The company traded as high as $49.48 and last traded at $49.5180. 807,326 shares were traded during trading, a decline of 54% from the average session volume of 1,755,207 shares. The stock had previously closed at $45.55.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and set a $85.00 price target on shares of Vaxcyte in a research note on Monday. Cowen restated a “buy” rating on shares of Vaxcyte in a research report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a research report on Tuesday, October 14th. Finally, The Goldman Sachs Group initiated coverage on shares of Vaxcyte in a report on Friday, September 12th. They issued a “neutral” rating and a $38.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Vaxcyte currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Vaxcyte Stock Up 8.6%

The firm has a fifty day simple moving average of $39.17 and a 200-day simple moving average of $35.33. The company has a market capitalization of $6.48 billion, a P/E ratio of -10.19 and a beta of 1.07.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.29). During the same quarter in the previous year, the company earned ($0.83) EPS. On average, sell-side analysts predict that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its stake in shares of Vaxcyte by 75.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 96,600 shares of the company’s stock worth $3,648,000 after purchasing an additional 41,517 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Vaxcyte by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 2,977 shares of the company’s stock worth $112,000 after buying an additional 293 shares during the last quarter. Xponance Inc. increased its holdings in shares of Vaxcyte by 4.7% during the 1st quarter. Xponance Inc. now owns 9,320 shares of the company’s stock worth $352,000 after acquiring an additional 415 shares during the last quarter. New York State Common Retirement Fund raised its stake in Vaxcyte by 190.6% in the 1st quarter. New York State Common Retirement Fund now owns 137,440 shares of the company’s stock valued at $5,190,000 after acquiring an additional 90,145 shares during the period. Finally, C WorldWide Group Holding A S acquired a new stake in Vaxcyte during the 1st quarter valued at $3,587,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

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.