Vaxcyte (NASDAQ:PCVX) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a research note released on Friday morning, Benzinga reports. Needham & Company LLC currently has a $95.00 price target on the stock.

Separately, Cantor Fitzgerald restated an overweight rating on shares of Vaxcyte in a research note on Thursday, June 20th.

Vaxcyte Stock Down 4.1 %

Shares of PCVX opened at $75.51 on Friday. The company has a 50-day simple moving average of $69.59 and a 200-day simple moving average of $67.87. Vaxcyte has a 52 week low of $44.20 and a 52 week high of $82.04.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $0.28. On average, research analysts anticipate that Vaxcyte will post -3.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Grant Pickering sold 15,000 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.64, for a total value of $1,134,600.00. Following the sale, the chief executive officer now owns 478,888 shares of the company’s stock, valued at approximately $36,223,088.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $61.27, for a total value of $490,160.00. Following the completion of the transaction, the chief financial officer now owns 95,679 shares in the company, valued at $5,862,252.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Grant Pickering sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.64, for a total value of $1,134,600.00. Following the completion of the transaction, the chief executive officer now directly owns 478,888 shares in the company, valued at $36,223,088.32. The disclosure for this sale can be found here. Insiders sold 86,483 shares of company stock worth $6,048,133 in the last 90 days. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vaxcyte

Institutional investors and hedge funds have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Vaxcyte by 16.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 25,059 shares of the company’s stock valued at $1,712,000 after buying an additional 3,564 shares during the last quarter. Farallon Capital Management LLC grew its holdings in Vaxcyte by 11,000.0% during the 1st quarter. Farallon Capital Management LLC now owns 377,400 shares of the company’s stock worth $25,780,000 after acquiring an additional 374,000 shares during the last quarter. RA Capital Management L.P. increased its position in Vaxcyte by 4.0% in the 1st quarter. RA Capital Management L.P. now owns 8,203,754 shares of the company’s stock valued at $560,398,000 after acquiring an additional 312,500 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Vaxcyte in the first quarter worth about $405,000. Finally, California State Teachers Retirement System raised its stake in shares of Vaxcyte by 11.8% in the first quarter. California State Teachers Retirement System now owns 92,026 shares of the company’s stock worth $6,286,000 after acquiring an additional 9,695 shares during the last quarter. 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.