Vaxcyte (NASDAQ:PCVX) Shares Gap Down to $45.94

Vaxcyte, Inc. (NASDAQ:PCVXGet Rating)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $45.94, but opened at $44.81. Vaxcyte shares last traded at $41.89, with a volume of 3,399 shares traded.

Analysts Set New Price Targets

PCVX has been the topic of several analyst reports. Cantor Fitzgerald increased their target price on shares of Vaxcyte from $55.00 to $70.00 in a research report on Tuesday, November 8th. SVB Leerink reissued an “outperform” rating and set a $60.00 target price on shares of Vaxcyte in a research report on Friday, December 16th. Guggenheim initiated coverage on shares of Vaxcyte in a research report on Thursday, December 15th. They set a “buy” rating and a $66.00 target price on the stock. Bank of America raised their price target on Vaxcyte to $67.00 in a research report on Monday, October 24th. Finally, BTIG Research initiated coverage on Vaxcyte in a research report on Thursday, November 17th. They issued a “buy” rating and a $69.00 price target on the stock.

Vaxcyte Stock Up 3.0 %

The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of -14.89 and a beta of 1.04. The company has a 50-day moving average price of $44.96 and a 200-day moving average price of $32.85.

Vaxcyte (NASDAQ:PCVXGet Rating) last released its earnings results on Monday, November 7th. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.13). Equities analysts expect that Vaxcyte, Inc. will post -3.25 EPS for the current fiscal year.

Insider Activity at Vaxcyte

In related news, Director Heath Lukatch sold 4,335 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $46.13, for a total value of $199,973.55. Following the completion of the sale, the director now owns 3,125 shares in the company, valued at $144,156.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Vaxcyte news, Director Heath Lukatch sold 4,335 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $46.13, for a total transaction of $199,973.55. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at $144,156.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jim Wassil sold 2,800 shares of the firm’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $25.72, for a total transaction of $72,016.00. Following the transaction, the chief operating officer now owns 42,344 shares of the company’s stock, valued at approximately $1,089,087.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,800 shares of company stock worth $960,091. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Vaxcyte in the second quarter valued at approximately $383,000. Amalgamated Bank bought a new position in shares of Vaxcyte in the first quarter valued at approximately $129,000. Walleye Capital LLC bought a new position in shares of Vaxcyte in the first quarter valued at approximately $1,677,000. Woodline Partners LP bought a new position in shares of Vaxcyte in the second quarter valued at approximately $10,147,000. Finally, Driehaus Capital Management LLC raised its stake in shares of Vaxcyte by 509.1% in the second quarter. Driehaus Capital Management LLC now owns 548,190 shares of the company’s stock valued at $11,929,000 after acquiring an additional 458,190 shares during the last quarter. Institutional investors own 71.50% of the company’s stock.

About Vaxcyte

(Get Rating)

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 that is in Phase 1/2 clinical trials to treat invasive pneumococcal disease and pneumonia.

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