Vaxcyte (NASDAQ:PCVX) Issues Earnings Results, Misses Expectations By $0.05 EPS

Vaxcyte (NASDAQ:PCVXGet Rating) announced its earnings results on Monday. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.05), MarketWatch Earnings reports.

NASDAQ PCVX traded up $0.04 during trading on Tuesday, reaching $21.45. The company’s stock had a trading volume of 27,829 shares, compared to its average volume of 306,998. The company has a market capitalization of $1.25 billion, a PE ratio of -11.21 and a beta of 0.41. The stock has a fifty day moving average of $24.62. Vaxcyte has a one year low of $15.51 and a one year high of $27.44.

In related news, COO Jim Wassil sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $22.00, for a total transaction of $220,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Grant Pickering sold 14,288 shares of the firm’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $24.94, for a total value of $356,342.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,076 shares of company stock worth $1,687,682. 21.70% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Swiss National Bank increased its stake in Vaxcyte by 8.9% in the 1st quarter. Swiss National Bank now owns 50,000 shares of the company’s stock worth $1,208,000 after purchasing an additional 4,100 shares during the period. BlackRock Inc. increased its stake in Vaxcyte by 10.0% in the 4th quarter. BlackRock Inc. now owns 2,777,047 shares of the company’s stock worth $66,066,000 after purchasing an additional 252,402 shares during the period. Wells Fargo & Company MN increased its stake in Vaxcyte by 6,210.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,859 shares of the company’s stock worth $425,000 after purchasing an additional 17,576 shares during the period. Deutsche Bank AG increased its stake in Vaxcyte by 4.8% in the 4th quarter. Deutsche Bank AG now owns 30,044 shares of the company’s stock worth $714,000 after purchasing an additional 1,368 shares during the period. Finally, California State Teachers Retirement System increased its stake in Vaxcyte by 3.2% in the 4th quarter. California State Teachers Retirement System now owns 39,465 shares of the company’s stock worth $939,000 after purchasing an additional 1,227 shares during the period. 82.18% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on PCVX. Zacks Investment Research lowered Vaxcyte from a “buy” rating to a “hold” rating in a research note on Wednesday, March 2nd. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Vaxcyte in a research note on Thursday, February 24th.

About Vaxcyte (Get Rating)

Vaxcyte, Inc, a preclinical-stage biotechnology vaccine company, develops novel vaccines to prevent or treat infectious diseases worldwide. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine. The company also develops VAX-XP to protect against emerging strains and address antibiotic resistance; VAX-A1, a conjugate vaccine candidate designed to treat Group A Strep; and VAX-PG, a novel protein vaccine candidate targeting Porphyromonas gingivalis.

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Earnings History for Vaxcyte (NASDAQ:PCVX)

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