Vaxcyte’s (PCVX) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Vaxcyte (NASDAQ:PCVX) in a report released on Wednesday morning,Benzinga reports.

Several other research analysts have also recently issued reports on PCVX. Mizuho upped their target price on shares of Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Vaxcyte in a report on Wednesday. Jefferies Financial Group increased their price target on shares of Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Leerink Partners increased their price target on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Bank of America increased their price target on shares of Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Vaxcyte has an average rating of “Buy” and an average price target of $147.50.

Vaxcyte Stock Up 3.9 %

Shares of Vaxcyte stock opened at $106.67 on Wednesday. Vaxcyte has a 52-week low of $46.16 and a 52-week high of $121.06. The company has a 50 day moving average of $111.56 and a 200 day moving average of $87.23. The company has a market capitalization of $13.30 billion, a P/E ratio of -23.19 and a beta of 1.01.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.27. During the same quarter in the previous year, the company posted ($0.91) earnings per share. As a group, research analysts anticipate that Vaxcyte will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $78.98, for a total transaction of $1,184,700.00. Following the completion of the transaction, the chief executive officer now owns 478,888 shares in the company, valued at approximately $37,822,574.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Grant Pickering sold 15,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $78.98, for a total value of $1,184,700.00. Following the completion of the transaction, the chief executive officer now owns 478,888 shares in the company, valued at $37,822,574.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total transaction of $927,520.00. Following the completion of the transaction, the chief financial officer now owns 90,383 shares of the company’s stock, valued at $10,479,005.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,464 shares of company stock worth $12,640,276. 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 the business. Intech Investment Management LLC acquired a new stake in Vaxcyte in the 3rd quarter valued at about $3,226,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Vaxcyte by 59.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,037 shares of the company’s stock worth $8,003,000 after purchasing an additional 26,096 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Vaxcyte during the 3rd quarter worth about $1,189,000. Meeder Asset Management Inc. boosted its stake in shares of Vaxcyte by 1,007.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 698 shares of the company’s stock worth $80,000 after purchasing an additional 635 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its stake in shares of Vaxcyte by 7.6% during the 3rd quarter. Pathstone Holdings LLC now owns 30,527 shares of the company’s stock worth $3,488,000 after purchasing an additional 2,154 shares during the last quarter. 96.78% of the stock is owned by institutional investors and hedge funds.

About Vaxcyte

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.