Vaxcyte’s (PCVX) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a research note released on Tuesday,Benzinga reports. Needham & Company LLC currently has a $14.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on PCVX. The Goldman Sachs Group initiated coverage on Vaxcyte in a report on Friday, December 20th. They set a “buy” rating and a $135.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $127.71.

Vaxcyte Trading Down 0.9 %

Shares of Vaxcyte stock opened at $85.13 on Tuesday. Vaxcyte has a 1-year low of $58.10 and a 1-year high of $121.06. The firm’s 50-day moving average price is $86.92 and its two-hundred day moving average price is $94.56. The stock has a market capitalization of $10.61 billion, a price-to-earnings ratio of -18.51 and a beta of 0.98.

Insider Activity

In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of Vaxcyte stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $92.45, for a total transaction of $1,386,750.00. Following the completion of the sale, the chief executive officer now owns 450,301 shares of the company’s stock, valued at approximately $41,630,327.45. The trade was a 3.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jim Wassil sold 8,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $86.22, for a total value of $689,760.00. Following the completion of the transaction, the chief operating officer now directly owns 205,695 shares in the company, valued at approximately $17,735,022.90. This trade represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,616 shares of company stock valued at $6,095,681. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Vaxcyte

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new position in Vaxcyte during the third quarter worth about $27,000. Whipplewood Advisors LLC acquired a new position in Vaxcyte during the fourth quarter valued at approximately $28,000. Blue Trust Inc. increased its stake in Vaxcyte by 33.5% in the third quarter. Blue Trust Inc. now owns 371 shares of the company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Vaxcyte by 188.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 398 shares of the company’s stock worth $33,000 after purchasing an additional 260 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in shares of Vaxcyte by 1,007.9% during the third quarter. Meeder Asset Management Inc. now owns 698 shares of the company’s stock worth $80,000 after purchasing an additional 635 shares in the last quarter. Institutional investors 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.