Vaxcyte (NASDAQ:PCVX) Stock Price Up 7.8% – Still a Buy?

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) were up 7.8% on Wednesday . The company traded as high as $84.27 and last traded at $84.26. Approximately 377,857 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 883,805 shares. The stock had previously closed at $78.14.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PCVX shares. Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. The Goldman Sachs Group started coverage on shares of Vaxcyte in a report on Friday, December 20th. They issued a “buy” rating and a $135.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $145.71.

Vaxcyte Stock Performance

The firm has a market cap of $10.84 billion, a PE ratio of -18.90 and a beta of 0.98. The firm’s 50-day moving average price is $89.10 and its two-hundred day moving average price is $93.56.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.27. During the same quarter in the previous year, the company posted ($0.91) EPS. As a group, sell-side analysts predict that Vaxcyte, Inc. will post -4.14 earnings per share for the current fiscal year.

Insider Activity at Vaxcyte

In other Vaxcyte news, COO Jim Wassil sold 8,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $83.66, for a total value of $669,280.00. Following the transaction, the chief operating officer now directly owns 205,695 shares of the company’s stock, valued at approximately $17,208,443.70. The trade was a 3.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mikhail Eydelman sold 5,000 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $91.49, for a total transaction of $457,450.00. Following the transaction, the senior vice president now directly owns 28,697 shares in the company, valued at approximately $2,625,488.53. This trade represents a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,732 shares of company stock worth $11,730,787 in the last 90 days. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Vaxcyte

A number of large investors have recently added to or reduced their stakes in PCVX. Riverview Trust Co acquired a new stake in Vaxcyte in the 3rd quarter valued at about $27,000. Blue Trust Inc. grew its stake in Vaxcyte by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company’s stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. Quest Partners LLC purchased a new position in Vaxcyte in the 2nd quarter valued at about $70,000. Meeder Asset Management Inc. lifted its holdings in Vaxcyte by 1,007.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 698 shares of the company’s stock valued at $80,000 after purchasing an additional 635 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new position in Vaxcyte in the 3rd quarter valued at about $92,000. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Company Profile

Vaxcyte, Inc, a clinical-stage biotechnology vaccine company, develops novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease. The company also develops VAX-31 to protect against emerging strains and to help address antibiotic resistance; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting keystone pathogen responsible for periodontitis; and VAX-GI to prevent Shigella, a bacterial illness.