Vaxcyte (NASDAQ:PCVX) Posts Quarterly Earnings Results, Misses Expectations By $0.34 EPS

Vaxcyte (NASDAQ:PCVX) issued its quarterly earnings results on Tuesday. The company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.34), Zacks reports. During the same period last year, the business posted ($1.12) EPS.

Here are the key takeaways from Vaxcyte’s conference call:

• OPUS phase III program for VAX-31 is underway with OPUS‑1 (head‑to‑head vs Prevnar 20 and PCV21) and the company expects top‑line safety, tolerability, and immunogenicity data in the fourth quarter of this year.
• Manufacturing readiness advanced: the dedicated large‑scale manufacturing facility was completed on time and on budget, and a high‑volume fill‑finish line in North Carolina is being built as part of up to a $1 billion U.S. manufacturing investment.
• Balance sheet strengthened — $2.4 billion in cash and investments at year‑end 2025 plus ~$600.2 million net proceeds from a February equity offering, giving management confidence in runway to at least the end of 2028.
• 2026 spending is expected to increase meaningfully, driven by manufacturing scale‑up, building commercial VAX‑31 supply, and larger late‑stage clinical programs, which will raise near‑term R&D and operating expenses.
• Infant program progress: the VAX‑31 infant Phase II optimized‑dose arm has completed enrollment (900 infants dosed), with top‑line data for the primary 3‑dose series and booster expected by the first half of 2027.

Vaxcyte Stock Up 1.8%

Shares of Vaxcyte stock traded up $1.09 during trading on Tuesday, hitting $61.35. 822,825 shares of the company were exchanged, compared to its average volume of 1,399,669. The firm has a 50 day moving average price of $50.37 and a 200 day moving average price of $43.23. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of -12.68 and a beta of 1.33. Vaxcyte has a fifty-two week low of $27.66 and a fifty-two week high of $83.33.

Analyst Upgrades and Downgrades

PCVX has been the topic of a number of analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Vaxcyte in a report on Monday, November 10th. Guggenheim restated a “buy” rating and issued a $116.00 price target on shares of Vaxcyte in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a report on Friday, January 9th. Needham & Company LLC boosted their target price on shares of Vaxcyte from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Finally, Leerink Partners set a $77.00 price target on shares of Vaxcyte and gave the company an “outperform” rating in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.83.

Insider Transactions at Vaxcyte

In related news, insider Harpreet S. Dhaliwal sold 9,743 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $46.69, for a total value of $454,900.67. Following the completion of the transaction, the insider owned 23,928 shares of the company’s stock, valued at approximately $1,117,198.32. The trade was a 28.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Elvia Cowan sold 11,623 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $47.92, for a total transaction of $556,974.16. Following the sale, the senior vice president directly owned 14,534 shares in the company, valued at $696,469.28. This represents a 44.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Vaxcyte

Several hedge funds have recently made changes to their positions in PCVX. Royal Bank of Canada grew its position in shares of Vaxcyte by 115.2% in the first quarter. Royal Bank of Canada now owns 29,471 shares of the company’s stock valued at $1,113,000 after purchasing an additional 15,774 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Vaxcyte in the 1st quarter valued at about $219,000. Caxton Associates LLP acquired a new position in shares of Vaxcyte during the 1st quarter valued at about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Vaxcyte by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 513,998 shares of the company’s stock valued at $19,409,000 after acquiring an additional 41,034 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Vaxcyte by 13.8% in the second quarter. Cetera Investment Advisers now owns 7,681 shares of the company’s stock worth $250,000 after acquiring an additional 932 shares during the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.

About Vaxcyte

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company’s platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte’s lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.