Insider Selling: Vaxcyte, Inc. (NASDAQ:PCVX) CEO Sells 15,000 Shares of Stock

Vaxcyte, Inc. (NASDAQ:PCVX) CEO Grant Pickering sold 15,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $61.92, for a total value of $928,800.00. Following the sale, the chief executive officer now owns 477,847 shares of the company’s stock, valued at approximately $29,588,286.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Grant Pickering also recently made the following trade(s):

• On Monday, March 25th, Grant Pickering sold 15,000 shares of Vaxcyte stock. The stock was sold at an average price of $66.93, for a total value of $1,003,950.00.
• On Friday, March 1st, Grant Pickering sold 2,616 shares of Vaxcyte stock. The stock was sold at an average price of $73.70, for a total value of $192,799.20.
• On Thursday, February 1st, Grant Pickering sold 2,616 shares of Vaxcyte stock. The stock was sold at an average price of $73.91, for a total value of $193,348.56.
• On Monday, January 29th, Grant Pickering sold 30,000 shares of Vaxcyte stock. The stock was sold at an average price of $66.03, for a total value of $1,980,900.00.

Vaxcyte Stock Up 1.1 %

Shares of PCVX opened at $60.72 on Friday. The business’s 50 day moving average is $67.96 and its two-hundred day moving average is $61.36. Vaxcyte, Inc. has a 52-week low of $41.57 and a 52-week high of $82.04. The firm has a market cap of $6.60 billion, a price-to-earnings ratio of -14.70 and a beta of 0.89.

Vaxcyte (NASDAQ:PCVX) last announced its earnings results on Tuesday, February 27th. The company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.93). During the same quarter in the prior year, the business earned ($0.73) earnings per share. On average, equities analysts expect that Vaxcyte, Inc. will post -4.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vaxcyte

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its position in shares of Vaxcyte by 155.3% in the 4th quarter. Parallel Advisors LLC now owns 411 shares of the company’s stock valued at $26,000 after purchasing an additional 250 shares in the last quarter. Banque Cantonale Vaudoise raised its position in shares of Vaxcyte by 96.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 1,184 shares of the company’s stock valued at $81,000 after purchasing an additional 582 shares in the last quarter. Avior Wealth Management LLC acquired a new position in shares of Vaxcyte in the 3rd quarter valued at approximately $178,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Vaxcyte during the 4th quarter valued at approximately $208,000. Finally, Rathbones Group PLC bought a new position in Vaxcyte during the third quarter worth $221,000. 96.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Bank of America upped their price target on Vaxcyte from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Needham & Company LLC restated a “buy” rating and issued a $95.00 price target on shares of Vaxcyte in a report on Wednesday, April 10th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a report on Friday, January 12th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $78.50.

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.