Vaxcyte’s (PCVX) Buy Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $160.00 price target on the stock.

A number of other research analysts also recently weighed in on PCVX. Cantor Fitzgerald reissued an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. The Goldman Sachs Group started coverage on Vaxcyte in a research report on Friday, December 20th. They issued a “buy” rating and a $135.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Vaxcyte in a research report on Wednesday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vaxcyte has an average rating of “Buy” and a consensus target price of $147.50.

Vaxcyte Stock Performance

PCVX stock opened at $73.02 on Wednesday. Vaxcyte has a fifty-two week low of $58.10 and a fifty-two week high of $121.06. The business’s 50-day moving average is $84.59 and its two-hundred day moving average is $94.71. The company has a market cap of $9.10 billion, a price-to-earnings ratio of -15.87 and a beta of 0.98.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.14. Equities analysts predict that Vaxcyte will post -4.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $88.78, for a total transaction of $710,240.00. Following the completion of the sale, the chief financial officer now owns 109,491 shares in the company, valued at approximately $9,720,610.98. This trade represents a 6.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Grant Pickering sold 15,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $92.45, for a total value of $1,386,750.00. Following the sale, the chief executive officer now owns 450,301 shares of the company’s stock, valued at $41,630,327.45. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,616 shares of company stock worth $6,766,481 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Vaxcyte

Several institutional investors have recently made changes to their positions in PCVX. Janus Henderson Group PLC grew its position in shares of Vaxcyte by 23.1% during the third quarter. Janus Henderson Group PLC now owns 10,921,896 shares of the company’s stock worth $1,247,954,000 after purchasing an additional 2,052,989 shares in the last quarter. Capital Research Global Investors boosted its stake in Vaxcyte by 26.8% during the fourth quarter. Capital Research Global Investors now owns 6,210,523 shares of the company’s stock valued at $508,393,000 after buying an additional 1,312,302 shares during the last quarter. Norges Bank bought a new position in Vaxcyte during the fourth quarter valued at approximately $90,069,000. Vanguard Group Inc. boosted its stake in Vaxcyte by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company’s stock valued at $979,184,000 after buying an additional 521,204 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its stake in Vaxcyte by 57.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,422,787 shares of the company’s stock valued at $116,469,000 after buying an additional 518,255 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

About Vaxcyte

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.