Vaxcyte (NASDAQ:PCVX) Stock Price Down 5.9% – Here’s What Happened

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) dropped 5.9% during trading on Tuesday . The company traded as low as $105.85 and last traded at $106.10. Approximately 532,179 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 826,559 shares. The stock had previously closed at $112.80.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Leerink Partners raised their target price on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Needham & Company LLC boosted their price target on Vaxcyte from $95.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group increased their price objective on shares of Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. BTIG Research raised their price objective on shares of Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Mizuho increased their price target on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $147.50.

Vaxcyte Trading Up 0.2 %

The company has a market cap of $11.87 billion, a P/E ratio of -22.76 and a beta of 0.99. The firm has a 50 day moving average of $107.82 and a 200-day moving average of $85.25.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.04. During the same quarter in the previous year, the firm posted ($0.70) earnings per share. Equities analysts predict that Vaxcyte, Inc. will post -4.33 EPS for the current fiscal year.

Insider Activity at Vaxcyte

In other news, SVP Mikhail Eydelman sold 5,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $109.27, for a total value of $546,350.00. Following the sale, the senior vice president now directly owns 28,623 shares in the company, valued at $3,127,635.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Andrew Guggenhime sold 42,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $115.39, for a total transaction of $4,846,380.00. Following the transaction, the chief financial officer now owns 90,383 shares of the company’s stock, valued at approximately $10,429,294.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mikhail Eydelman sold 5,000 shares of Vaxcyte stock in a transaction on Monday, October 7th. The stock was sold at an average price of $109.27, for a total transaction of $546,350.00. Following the transaction, the senior vice president now directly owns 28,623 shares of the company’s stock, valued at $3,127,635.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,098 shares of company stock valued at $9,937,773 over the last 90 days. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vaxcyte

A number of large investors have recently made changes to their positions in PCVX. Principal Financial Group Inc. grew its position in Vaxcyte by 186.2% in the 3rd quarter. Principal Financial Group Inc. now owns 52,702 shares of the company’s stock valued at $6,022,000 after acquiring an additional 34,287 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Vaxcyte by 8.6% during the third quarter. Amalgamated Bank now owns 4,081 shares of the company’s stock valued at $466,000 after purchasing an additional 322 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Vaxcyte by 60.3% in the third quarter. Harbor Capital Advisors Inc. now owns 64,664 shares of the company’s stock worth $7,389,000 after purchasing an additional 24,322 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Vaxcyte by 68.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 21,466 shares of the company’s stock worth $2,453,000 after buying an additional 8,685 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Vaxcyte by 5.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,209 shares of the company’s stock valued at $252,000 after buying an additional 110 shares in the last quarter. 96.78% of the stock is owned by hedge funds and other 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.