Vaxcyte (NASDAQ:PCVX) Price Target Lowered to $90.00 at Needham & Company LLC

Vaxcyte (NASDAQ:PCVX) had its price target trimmed by Needham & Company LLC from $140.00 to $90.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group started coverage on shares of Vaxcyte in a report on Friday, December 20th. They issued a “buy” rating and a $135.00 price target on the stock. Guggenheim reaffirmed a “buy” rating and set a $160.00 target price on shares of Vaxcyte in a report on Wednesday, March 12th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $136.50.

Vaxcyte Trading Down 14.6 %

Vaxcyte stock opened at $32.23 on Tuesday. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of -7.01 and a beta of 1.02. 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 1-year low of $30.12 and a 1-year high of $121.06.

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

Insider Activity at Vaxcyte

In other news, Director Teri Loxam sold 6,250 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $85.11, for a total value of $531,937.50. Following the completion of the transaction, the director now directly owns 7,175 shares in the company, valued at approximately $610,664.25. This represents a 46.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jim Wassil sold 8,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $83.66, for a total value of $669,280.00. Following the transaction, the chief operating officer now directly owns 205,695 shares in the company, valued at approximately $17,208,443.70. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,250 shares of company stock valued at $3,840,018 over the last three months. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Whipplewood Advisors LLC bought a new stake in shares of Vaxcyte in the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC raised its position in Vaxcyte by 188.4% in the 4th 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. National Bank of Canada FI bought a new stake in Vaxcyte in the fourth quarter worth $41,000. Blue Trust Inc. boosted its position in Vaxcyte by 100.0% during the fourth quarter. Blue Trust Inc. now owns 742 shares of the company’s stock valued at $61,000 after buying an additional 371 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Vaxcyte by 77,500.0% during the fourth quarter. Assetmark Inc. now owns 776 shares of the company’s stock valued at $64,000 after buying an additional 775 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors.

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.