Vaxcyte (NASDAQ:PCVX) Shares Gap Down – Here’s What Happened

Vaxcyte, Inc. (NASDAQ:PCVX) shares gapped down prior to trading on Monday . The stock had previously closed at $69.46, but opened at $33.07. Vaxcyte shares last traded at $33.56, with a volume of 2,578,445 shares traded.

Wall Street Analyst Weigh In

PCVX has been the subject of several research reports. The Goldman Sachs Group decreased their target price on Vaxcyte from $138.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday. Bank of America cut their price objective on Vaxcyte from $157.00 to $137.00 and set a “buy” rating on the stock in a report on Tuesday. Guggenheim reissued a “buy” rating and issued a $160.00 price objective on shares of Vaxcyte in a research note on Wednesday, March 12th. Finally, Needham & Company LLC decreased their target price on shares of Vaxcyte from $140.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $136.50.

Vaxcyte Trading Down 14.6 %

The company has a fifty day moving average of $78.00 and a two-hundred day moving average of $91.24. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -7.01 and a beta of 1.02.

Vaxcyte (NASDAQ:PCVX) last announced its earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.14. As a group, sell-side analysts predict that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Vaxcyte

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC grew its stake in Vaxcyte by 23.1% in the third quarter. Janus Henderson Group PLC now owns 10,921,896 shares of the company’s stock valued at $1,247,954,000 after acquiring an additional 2,052,989 shares during the period. Capital Research Global Investors increased its stake in Vaxcyte by 26.8% in the 4th 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 during the last quarter. Norges Bank acquired a new position in Vaxcyte during the fourth quarter valued at approximately $90,069,000. Vanguard Group Inc. increased its position in shares of Vaxcyte by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company’s stock worth $979,184,000 after purchasing an additional 521,204 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its holdings in shares of Vaxcyte by 57.3% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,422,787 shares of the company’s stock valued at $116,469,000 after buying an additional 518,255 shares during the last quarter. 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.