Vaxcyte (NASDAQ:PCVX) Issues Earnings Results

Vaxcyte (NASDAQ:PCVX) posted its quarterly earnings data on Wednesday. The company reported ($1.99) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.11) by $0.12, FiscalAI reports. During the same period in the prior year, the company posted ($1.56) earnings per share.

Vaxcyte Trading Up 3.0%

Vaxcyte stock traded up $1.86 during mid-day trading on Friday, hitting $63.78. The company had a trading volume of 257,722 shares, compared to its average volume of 1,634,969. The stock’s 50 day moving average price is $61.65 and its two-hundred day moving average price is $57.23. Vaxcyte has a 12 month low of $40.14 and a 12 month high of $90.75. The company has a market capitalization of $9.49 billion, a PE ratio of -7.90 and a beta of 1.31.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and issued a $89.00 target price on shares of Vaxcyte in a research report on Monday, October 5th. Needham & Company LLC lifted their price target on shares of Vaxcyte from $110.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Zacks Research raised shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded shares of Vaxcyte from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Guggenheim upped their price objective on shares of Vaxcyte from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.50.

Insiders Place Their Bets

In other news, EVP Jim Wassil sold 2,250 shares of Vaxcyte stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $60.90, for a total value of $137,025.00. Following the completion of the transaction, the executive vice president owned 145,435 shares of the company’s stock, valued at $8,856,991.50. The trade was a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 3,000 shares of Vaxcyte stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $60.92, for a total value of $182,760.00. Following the completion of the transaction, the chief accounting officer directly owned 27,860 shares of the company’s stock, valued at approximately $1,697,231.20. This represents a 9.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 50,692 shares of company stock worth $4,032,875. Insiders own 3.30% of the company’s stock.

About Vaxcyte

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing vaccines designed to protect against serious bacterial diseases. The company is headquartered in San Carlos, California, and uses its proprietary cell-free protein synthesis and conjugation technologies to develop vaccine candidates intended to provide broad and durable immune protection.

Vaxcyte’s lead programs target pneumococcal disease, an infection caused by Streptococcus pneumoniae.