Vaxcyte (NASDAQ:PCVX) Posts Earnings Results, Misses Expectations By $0.56 EPS

Vaxcyte (NASDAQ:PCVX) issued its quarterly earnings results on Wednesday. The company reported ($2.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.74) by ($0.56), FiscalAI reports. During the same quarter last year, the business earned ($1.04) earnings per share.

Vaxcyte Stock Performance

PCVX stock traded up $1.00 during midday trading on Friday, hitting $52.48. 916,304 shares of the company’s stock were exchanged, compared to its average volume of 1,384,065. The stock’s fifty day moving average price is $58.41 and its 200-day moving average price is $51.83. The company has a market cap of $7.58 billion, a PE ratio of -7.62 and a beta of 1.30. Vaxcyte has a one year low of $28.64 and a one year high of $65.00.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wall Street Zen lowered Vaxcyte from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Guggenheim restated a “buy” rating and set a $116.00 target price on shares of Vaxcyte in a report on Monday, February 2nd. BTIG Research upped their price target on Vaxcyte from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Jefferies Financial Group reiterated a “buy” rating on shares of Vaxcyte in a research report on Tuesday, March 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research note on Wednesday, April 8th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Insider Activity

In other news, CAO Elvia Cowan sold 3,000 shares of Vaxcyte stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the transaction, the chief accounting officer owned 28,975 shares in the company, valued at $1,738,500. The trade was a 9.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 2,250 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.83, for a total value of $127,867.50. Following the sale, the chief operating officer directly owned 160,744 shares of the company’s stock, valued at approximately $9,135,081.52. The trade was a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,037 shares of company stock valued at $994,899 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PCVX. Alberta Investment Management Corp bought a new stake in shares of Vaxcyte during the fourth quarter worth $1,389,000. Vident Advisory LLC lifted its position in Vaxcyte by 12.9% in the 4th quarter. Vident Advisory LLC now owns 8,821 shares of the company’s stock valued at $407,000 after acquiring an additional 1,007 shares in the last quarter. ADAR1 Capital Management LLC boosted its stake in Vaxcyte by 48.1% in the 4th quarter. ADAR1 Capital Management LLC now owns 315,642 shares of the company’s stock worth $14,564,000 after purchasing an additional 102,578 shares during the period. Empowered Funds LLC acquired a new position in Vaxcyte in the 4th quarter worth $211,000. Finally, XTX Topco Ltd bought a new position in Vaxcyte during the 4th quarter worth about $704,000. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Company Profile

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.