Vaxcyte (NASDAQ:PCVX) Price Target Cut to $137.00 by Analysts at Bank of America

Vaxcyte (NASDAQ:PCVX) had its price objective decreased by equities researchers at Bank of America from $157.00 to $137.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 286.35% from the company’s previous close.

PCVX has been the topic of a number of other research reports. Needham & Company LLC cut their price objective on shares of Vaxcyte from $140.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday. The Goldman Sachs Group assumed coverage on Vaxcyte in a research note on Friday, December 20th. They set a “buy” rating and a $135.00 price target for the company. Finally, Guggenheim reiterated a “buy” rating and issued a $160.00 price objective on shares of Vaxcyte in a research report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $140.88.

Vaxcyte Stock Performance

Shares of PCVX opened at $35.46 on Tuesday. Vaxcyte has a 1 year low of $30.12 and a 1 year high of $121.06. The company’s 50-day simple moving average is $79.12 and its 200-day simple moving average is $91.83. The stock has a market capitalization of $4.57 billion, a PE ratio of -7.94 and a beta of 1.02.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.14. On average, sell-side analysts predict that Vaxcyte will post -4.21 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jim Wassil sold 8,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $83.66, for a total transaction of $669,280.00. Following the transaction, the chief operating officer now directly owns 205,695 shares in the company, valued at approximately $17,208,443.70. This represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Teri Loxam sold 6,250 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.11, for a total transaction of $531,937.50. Following the sale, the director now directly owns 7,175 shares of the company’s stock, valued at approximately $610,664.25. This trade represents a 46.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,250 shares of company stock worth $3,840,018. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of Vaxcyte

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its position in shares of Vaxcyte by 23.1% during the 3rd quarter. Janus Henderson Group PLC now owns 10,921,896 shares of the company’s stock worth $1,247,954,000 after purchasing an additional 2,052,989 shares during the period. Capital Research Global Investors increased its position 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 acquiring an additional 1,312,302 shares during the period. Norges Bank bought a new stake in Vaxcyte during the 4th quarter valued at $90,069,000. Vanguard Group Inc. boosted its position in 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 acquiring an additional 521,204 shares during the period. Finally, Paradigm Biocapital Advisors LP grew its stake in shares of Vaxcyte by 57.3% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,422,787 shares of the company’s stock worth $116,469,000 after purchasing an additional 518,255 shares in the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

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.