Vaxcyte (NASDAQ:PCVX) Sets New 52-Week High at $120.56

Vaxcyte, Inc. (NASDAQ:PCVX)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $120.56 and last traded at $120.28, with a volume of 127235 shares. The stock had previously closed at $116.54.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. BTIG Research lifted their price target on shares of Vaxcyte from $98.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group lifted their target price on shares of Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America increased their price target on Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Leerink Partners boosted their price objective on Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Vaxcyte in a research report on Thursday, June 20th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $147.50.

Vaxcyte Stock Performance

The stock has a market cap of $12.86 billion, a P/E ratio of -26.91 and a beta of 0.97. The stock’s fifty day moving average is $89.12 and its 200 day moving average is $76.35.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.04. During the same period in the prior year, the business earned ($0.70) earnings per share. Equities research analysts predict that Vaxcyte, Inc. will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other Vaxcyte news, SVP Mikhail Eydelman sold 1,667 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $76.37, for a total value of $127,308.79. Following the completion of the sale, the senior vice president now owns 30,826 shares of the company’s stock, valued at $2,354,181.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Mikhail Eydelman sold 1,667 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $76.37, for a total value of $127,308.79. Following the transaction, the senior vice president now owns 30,826 shares of the company’s stock, valued at approximately $2,354,181.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Grant Pickering sold 15,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $75.64, for a total transaction of $1,134,600.00. Following the completion of the sale, the chief executive officer now directly owns 478,888 shares of the company’s stock, valued at $36,223,088.32. The disclosure for this sale can be found here. Insiders sold 93,283 shares of company stock valued at $8,198,738 over the last three months. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Clearbridge Investments LLC purchased a new stake in shares of Vaxcyte in the 2nd quarter worth $14,056,000. Novo Holdings A S raised its holdings in shares of Vaxcyte by 12.4% in the second quarter. Novo Holdings A S now owns 950,000 shares of the company’s stock valued at $71,734,000 after acquiring an additional 105,000 shares in the last quarter. Creative Planning lifted its stake in Vaxcyte by 64.0% in the second quarter. Creative Planning now owns 27,280 shares of the company’s stock worth $2,060,000 after acquiring an additional 10,642 shares during the period. Algert Global LLC grew its holdings in Vaxcyte by 161.1% during the 2nd quarter. Algert Global LLC now owns 34,752 shares of the company’s stock worth $2,624,000 after acquiring an additional 21,442 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its position in Vaxcyte by 3.6% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,934,747 shares of the company’s stock valued at $146,093,000 after purchasing an additional 66,940 shares during the period. 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.