Vaxcyte (NASDAQ:PCVX) Given New $137.00 Price Target at Bank of America

Vaxcyte (NASDAQ:PCVX) had its price target cut by Bank of America from $157.00 to $137.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

PCVX has been the topic of a number of other reports. Needham & Company LLC cut their target price on shares of Vaxcyte from $140.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday. The Goldman Sachs Group began coverage on shares of Vaxcyte in a research note on Friday, December 20th. They set a “buy” rating and a $135.00 price target for the company. Finally, Guggenheim reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Vaxcyte in a research note on Wednesday, March 12th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Vaxcyte presently has an average rating of “Buy” and a consensus target price of $136.50.

Vaxcyte Price Performance

Shares of Vaxcyte stock opened at $32.23 on Tuesday. The firm has a 50 day simple moving average of $78.00 and a 200 day simple moving average of $91.24. Vaxcyte has a fifty-two week low of $30.12 and a fifty-two week high of $121.06. The firm has a market cap of $4.15 billion, a P/E ratio of -7.01 and a beta of 1.02.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.14. On average, sell-side analysts expect that Vaxcyte will post -4.21 EPS for the current year.

Insider Activity at Vaxcyte

In other news, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $86.51, for a total transaction of $692,080.00. Following the transaction, the chief financial officer now directly owns 109,491 shares of the company’s stock, valued at $9,472,066.41. This trade represents a 6.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teri Loxam sold 6,250 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total transaction of $531,937.50. Following the completion of the transaction, the director now directly owns 7,175 shares of the company’s stock, valued at $610,664.25. This trade represents a 46.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,250 shares of company stock worth $3,840,018. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vaxcyte

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in Vaxcyte by 23.1% during the 3rd 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 lifted its stake in Vaxcyte by 26.8% in 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 in the last quarter. Norges Bank acquired a new position in shares of Vaxcyte in the fourth quarter valued at approximately $90,069,000. Vanguard Group Inc. increased its position in shares of Vaxcyte by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company’s stock worth $979,184,000 after acquiring an additional 521,204 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP increased its position in shares of Vaxcyte by 57.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,422,787 shares of the company’s stock worth $116,469,000 after acquiring an additional 518,255 shares in the last quarter. Institutional investors and hedge funds 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.