Insider Selling: Vaxcyte (NASDAQ:PCVX) Insider Sells $935,000.00 in Stock

Vaxcyte, Inc. (NASDAQ:PCVX) insider Harpreet Dhaliwal sold 17,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $55.00, for a total value of $935,000.00. Following the completion of the transaction, the insider directly owned 76,756 shares in the company, valued at $4,221,580. The trade was a 18.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vaxcyte Stock Down 1.4%

NASDAQ PCVX opened at $58.07 on Friday. Vaxcyte, Inc. has a 52 week low of $29.29 and a 52 week high of $65.00. The firm has a market capitalization of $8.39 billion, a P/E ratio of -7.61 and a beta of 1.23. The company has a 50-day moving average price of $53.85 and a 200-day moving average price of $55.21.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.97) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.06) by $0.09. During the same quarter in the previous year, the company posted ($1.22) earnings per share. As a group, equities research analysts anticipate that Vaxcyte, Inc. will post -7.91 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in Vaxcyte by 156.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the company’s stock valued at $27,000 after purchasing an additional 364 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Vaxcyte by 1,463.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 641 shares of the company’s stock valued at $30,000 after purchasing an additional 600 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Vaxcyte by 33.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $34,000 after purchasing an additional 184 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Vaxcyte by 22,500.0% during the third quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company’s stock valued at $49,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Capital Advisors Ltd. LLC bought a new stake in shares of Vaxcyte in the first quarter worth about $58,000. Institutional investors own 96.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PCVX. Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a research note on Monday, July 6th. Wall Street Zen raised Vaxcyte from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Zacks Research downgraded Vaxcyte from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $86.00.

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.