Vaxcyte (NASDAQ:PCVX) Stock Price Down 3.8%

Vaxcyte, Inc. (NASDAQ:PCVX) dropped 3.8% during trading on Friday . The stock traded as low as $75.23 and last traded at $75.74. Approximately 381,912 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 773,662 shares. The stock had previously closed at $78.77.

Analysts Set New Price Targets

PCVX has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a research note on Thursday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Vaxcyte in a research note on Friday.

Vaxcyte Stock Performance

The firm has a 50-day moving average of $69.59 and a 200-day moving average of $67.94.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Wednesday, May 8th. The company reported ($0.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.28. As a group, analysts forecast that Vaxcyte, Inc. will post -3.96 EPS for the current fiscal year.

Insider Buying and Selling at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of the firm’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 transaction of $1,134,600.00. Following the completion of the transaction, the chief executive officer now owns 478,888 shares in the company, valued at approximately $36,223,088.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of the firm’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 transaction of $1,134,600.00. Following the completion of the transaction, the chief executive officer now owns 478,888 shares in the company, valued at approximately $36,223,088.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $74.99, for a total value of $599,920.00. Following the transaction, the chief financial officer now owns 95,679 shares of the company’s stock, valued at approximately $7,174,968.21. The disclosure for this sale can be found here. Insiders sold 86,483 shares of company stock worth $6,048,133 in the last quarter. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vaxcyte

Several institutional investors have recently added to or reduced their stakes in PCVX. Allspring Global Investments Holdings LLC lifted its stake in shares of Vaxcyte by 1,005.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 22,603 shares of the company’s stock valued at $1,419,000 after purchasing an additional 20,558 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Vaxcyte by 12.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 481,119 shares of the company’s stock valued at $30,214,000 after purchasing an additional 52,005 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Vaxcyte in the 4th quarter valued at approximately $3,035,000. Natixis Advisors L.P. bought a new stake in shares of Vaxcyte in the 4th quarter valued at approximately $881,000. Finally, Vestal Point Capital LP bought a new stake in shares of Vaxcyte in the 4th quarter valued at approximately $32,970,000. Hedge funds and other 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.