Vaxcyte, Inc. (NASDAQ:PCVX) Stock Rated “Moderate Buy” by Wall Street Brokerages

Vaxcyte, Inc. (NASDAQ:PCVX) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $110.50.

Several analysts recently weighed in on PCVX shares. Zacks Research upgraded shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a research note on Friday, October 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $120.00 price target on shares of Vaxcyte in a report on Monday, October 12th. BTIG Research reiterated a “buy” rating and set a $89.00 price objective on shares of Vaxcyte in a research report on Monday, October 5th. Finally, Bank of America decreased their price objective on Vaxcyte from $133.00 to $130.00 and set a “buy” rating for the company in a report on Monday, September 28th.

Insider Activity at Vaxcyte

In other news, EVP Jim Wassil sold 18,000 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $86.74, for a total value of $1,561,320.00. Following the completion of the transaction, the executive vice president owned 145,435 shares of the company’s stock, valued at approximately $12,615,031.90. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 19,000 shares of Vaxcyte stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $86.74, for a total transaction of $1,648,060.00. Following the sale, the chief accounting officer owned 27,860 shares in the company, valued at approximately $2,416,576.40. This represents a 40.55% 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 have sold a total of 92,890 shares of company stock worth $6,320,569 in the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Vaxcyte

A number of institutional investors have recently made changes to their positions in the stock. First Light Asset Management LLC lifted its holdings in Vaxcyte by 143.4% in the 2nd quarter. First Light Asset Management LLC now owns 345,157 shares of the company’s stock valued at $20,064,000 after acquiring an additional 203,373 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Vaxcyte by 73.4% during the 1st quarter. Bank of America Corp DE now owns 1,216,843 shares of the company’s stock valued at $70,711,000 after purchasing an additional 515,209 shares in the last quarter. Candriam S.C.A. acquired a new position in shares of Vaxcyte in the 1st quarter worth approximately $18,306,000. Seven Fleet Capital Management LP grew its stake in shares of Vaxcyte by 406.4% in the 1st quarter. Seven Fleet Capital Management LP now owns 128,450 shares of the company’s stock worth $7,464,000 after purchasing an additional 103,085 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Vaxcyte in the 2nd quarter worth approximately $1,906,000. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Trading Down 0.6%

PCVX opened at $62.85 on Friday. The company’s 50-day moving average price is $61.54 and its 200 day moving average price is $57.26. Vaxcyte has a fifty-two week low of $39.87 and a fifty-two week high of $90.75.

Vaxcyte (NASDAQ:PCVX) last issued its earnings results on Wednesday, August 5th. The company reported ($1.97) EPS for the quarter, beating analysts’ consensus estimates of ($2.06) by $0.09. During the same period last year, the company earned ($1.22) earnings per share. Equities analysts expect that Vaxcyte will post -7.47 EPS for the current fiscal year.

Vaxcyte Company Profile

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.